India’s foreign exchangae reserves increased by $39.6 million to $296.578 billion on the back of a rise in currency assets during the week ended December 28, the Reserve Bank of India said.

Foreign currency assets, a major component of the forex reserves, were up by $63.9 million to $262.01 billion, the RBI said in its weekly statistical supplement.

Gold reserves remained unchanged at $27.80 billion during the week, it said.