Forex reserves up by $1.67 b

India’s foreign exchange reserves surged by US$1.67 billion to US$303.51 billion, helped by a healthy increase in foreign currency assets (FCAs) in the week ended March 17.

The reserves had declined by US$755 million to US$301.84 billion the week before.

FCAs, biggest component of foreign reserves, went up by US$1.47 billion to US$273.72 billion for the week ended March 17, RBI said. India’s gold reserves were unchanged at US$22.14 billion at the end of the reporting week, RBI  said.