India’s foreign exchange reserves surged by USD 1.46 billion to USD 293.79 billion in the week ended February 14 on account of increase in the currency assets, the Reserve Bank said today.

In the previous reporting week, the reserves had increased by USD 1.26 billion to USD 292.33 billion.

Foreign currency assets (FCAs), a major part of the overall reserves, rose by USD 1.414 billion to USD 267.25 billion in the week under review, RBI said.

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 its reserves.

During the week, the gold reserves were unchanged at USD 20.075 billion.

The Special Drawing Rights rose by USD 30.5 million to USD 4.459 billion, while India’s reserve position with the IMF increased by USD 13.5 million to USD 2.007 billion, RBI said.

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