India's forex reserves surged USD 856.6 million to USD 315.778 billion in the week to June 27, on account of rise in currency assets. In the previous week, the total reserves had increased by USD 1.385 billion to USD 314.922 billion.
Foreign currency assets (FCAs), a major constituent of the overall reserves, rose USD 850.9 million to USD 288.812 billion in the period under review, the Reserve Bank said in its weekly statement here today. FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of the non-US currencies such as the Euro, Pound and Yen held in reserves. The gold reserves remained unchanged at USD 20.790 billion in the reporting week.
The special drawing rights was up USD 4 million to USD 4.460 billion, and the country's reserve position with the IMF also rose USD 1.7 million to USD 1.716 billion in the period under review, the central bank said.