The country's foreign exchange reserves increased by USD 2.734 billion to USD 593.323 billion for the week ended June 24 due to a surge in core currency assets, according to the Reserve Bank of India RBI on Friday.
The foreign reserves increased in the week ending June 24 due to an increase in Foreign Currency Assets FCAs, a major component of the overall reserves, and also in gold reserves, RBI said.
According to the Weekly Statistical Supplement released by RBI, the FCA increased by USD 2.334 billion to USD 529.216 billion.
The effects of appreciation or depreciation of non-US units like the euro, pound and yen in foreign exchange reserves are also expressed in dollar terms.
The value of the gold reserves went up by USD 342 million to USD 40.926 billion.
In the reporting week, the country's reserve position with the IMF increased by USD 3 million to USD 4.97 billion.