New Delhi, Jan 23 || India's foreign exchange reserves witnessed a massive surge of $14.167 billion to reach $701.36 billion in the week ended January 16, the Reserve Bank of India (RBI) data showed on Friday.
In the preceding week that ended January 9, the country's foreign exchange reserves had increased by $392 million.
The largest component of the foreign exchange reserves, Foreign Currency Assets (FCA), increased by $9.65 billion in the week ended January 16, reaching $560.51 billion.
FCA includes the value of other major global currencies such as the yen, euro and pound, in addition to the dollar, expressed in dollar terms.
The gold reserves also increased by $4.6 billion to $117.45 billion in the reporting period.
According to the RBI, the value of Special Drawing Rights (SDRs) decreased by $35 million to $18.70 billion in the week ended January 16. The value of the reserve position in the IMF decreased by $73 million to $4.684 billion.