Mumbai: India`s foreign exchange reserves increased by USD 3.88 billion to USD 338.07 billion for the week ended Feb 27, Reserve Bank of India (RBI) data showed.
The reserves had increased by USD 1.02 billion to USD 334.19 billion in the previous week (Feb 20).
According to the RBI`s weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, rose USD 3.90 billion at USD 312.20 billion in the week under review.
The foreign currency assets had risen by USD 1.04 billion at USD 308.29 billion in the previous week (Feb 20).
The RBI said the foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve.
However, India`s reserve position with the International Monetary Fund (IMF) in the week ended Feb 27 decreased by USD 4.6 million and stood at USD 1.63 billion.
The value of special drawing rights (SDRs) was lower by USD 11.4 million in the week under review at USD 4.06 billion.
Gold reserves for the week ended Feb 27 was static at USD 20.18 billion. The reserves had increased by USD 805.3 million at USD 20.18 billion in the week ended Feb 6.
