Forex reserves up $932.4 million to $360.77 billion

Country's foreign exchange reserves surged for the second consecutive week by $932.4 million to $360.775 billion in the week to January 20 on account of rise in foreign currency assets, the Reserve Bank said today.

The reserves in the previous week had increased by $687.9 million to $359.842 billion.

Foreign currency assets (FCAs), a major component of the overall reserves, increased by $926.4 million to $338.434 billion in the reporting week, RBI said.

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

Gold reserves remained unchanged in the week at $18.584 million, the RBI said.

The special drawing rights with the International Monetary Fund rose by $2.3 million to $1.442 billion, while India's reserve position with the Fund, too, increased by $3.7 million to $2.314 billion, RBI said.