Forex reserves jump USD 2 billion to USD 277 billion

Mumbai: India's exchange reserves rose by a robust USD 2.03 billion to USD 277.38 billion in the week ended September 20 on a healthy increase in the core currency assets, Reserve Bank said today.
 
The reserves had increased by USD 544.7 million to USD 275.35 billion in the previous reporting week.
 
Foreign currency assets (FCAs), a major component of the reserves, shot up by USD 1.97 billion to USD 249.22 billion for the week under review, the apex bank said in its weekly statement.
 
FCAs, expressed in dollar terms, include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in the reserves.
 
The gold reserves remained unchanged at USD 21.724 billion for the third week in a row, the central bank said. The gold reserves were also unchanged in the previous reporting week.
 
The special drawing rights (SDRs) increased USD 38.3 million to USD 4.42 billion, while India's reserve position with the International Monetary Fund rose USD 17.4 million to USD 2.01 billion, the RBI data showed.