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The country's foreign exchange reserves have gone up by modest $158 million to $300.786 billion for the week ended February 25, according to the weekly statistical bulletin released by the Reserve Bank of India.
The increase in reserves is mainly on account of currency revaluation. The reserves have gone up for the second consecutive week.
In the earlier week ended February 18, forex reserves increased by $1.965 billion to $300.628 billion.
Foreign currency assets increased by $102 million to $271.416 billion in the week. Foreign currency assets expressed in dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, sterling and yen, held in reserves.
In the week under consideration, the euro had gained against the dollar leading to reserves denominated in euro being re-valued at higher levels, said a dealer with a public sector bank. The euro moved up from $1.369 at the beginning of the week to $1.377 on February 25.
While gold reserves did not change, SDRs rose $39 million to $5.176 billion and the country's reserve position at the International Monetary Fund also increased by $17 million to $2.270 billion in the week.
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