Forex reserves soar past USD 400 bn-mark again

The country's foreign exchange reserves increased by USD 2.599 billion in the week to March 1 to reclaim the USD 400 billion-mark, RBI data showed.

The forex reserves stood at USD 401.776 billion in the reporting week.

In the previous week, the reserves had risen by USD 944.7 million to USD 399.217 billion.

In the reporting week, foreign currency assets, a major component of the overall reserves, swelled by USD 2.061 billion to USD 374.060 billion.

Expressed in US dollars, foreign currency assets include the effect of appreciation/depreciation of non-US currencies such as the euro, pound and yen held in the nation's reserves.