Forex reserves up USD 2.06 bn to USD 400.24 bn

The country's foreign exchange reserves increased by USD 2.063 billion to USD 400.24 billion in the week to February 1, on account of rise in foreign currency assets, according to RBI data.

In the previous week, the reserves had increased by USD 1.497 billion to USD 398.178 billion.

In the reporting week, foreign currency assets, a major component of the overall reserves, rose by USD 1.280 billion to USD 373.430 billion.

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

The reserves had touched a record high of USD 426.028 billion in the week to April 13, 2018.

Since then, the forex kitty has been on a slide and is now down by over USD 31 billion.