Forex reserves jump by $2.76 bn to $632.95 bn

The country's foreign exchange reserves increased by $2.76 billion to $632.95 billion for the week ended February 18 on a healthy rise in the value of gold reserves and core currency assets, the RBI said on Friday.

In the previous reporting week, the overall reserves had declined by $1.76 billion to $630.19 billion.

During the reporting week, the rise in overall reserves was on account of an increase in the foreign currency assets (FCA), a major component of the overall reserves, the Reserve Bank of India's (RBI) weekly data released on Friday showed.

FCA increased by $1.50 billion to $567.06 billion in the week ended February 18, it said.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves increased by $1.27 billion to $41.51 billion in the reporting week, the data showed.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) decreased by $11 million to $19.16 billion, RBI said.

The country's reserve position with the IMF increased by $4 million to $5.221 billion in the reporting week, the data showed.