Mumbai: RBI data showed India`s foreign exchange reserves increased by USD 3.88 billion to USD 338.07 billion for the week ended Feb 27.
As per the Reserve Bank of India`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 reserves had increased by USD 1.02 billion to USD 334.19 billion in the previous week (Feb 20).
It 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. The foreign currency assets had risen by USD 1.04 billion at USD 308.29 billion in the previous week (Feb 20). 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.
