Forex reserves up by $347.2 million to touch $351.831 billion: RBI

The country's foreign exchange reserves rose by $347.2 million to $351.831 billion in the week to February 12, helped by an increase in foreign currency assets (FCAs), according to the Reserve Bank of India (RBI).

In the previous week, the reserves had surged by $2.332 billion to $351.484 billion in the reporting period.

FCAs, a major component of overall reserves, increased by $1.581 billion to $330.019 billion in the reporting period, RBI said in a release on Friday.

FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and the yen, held in the reserves.

The gold reserves remained unchanged at $17.696 billion in the week.

India's special drawing rights with the International Monetary Fund (IMF) grew by $21.5 million to $4.061 billion in the week, while country's reserve position with the Fund declined by $1.255 billion to $54.2 million, the apex bank said.