Foreign Exchange reserves up by $1.615 billion

India's foreign exchange reserves surged 1.615 billion US Dollars to 318.22 billion US Dollars, on the back of a sharp rise in Foreign Currency Assets (FCA), for the week ended August 19,said a report released by the Reserve Bank of India. The hike is significant as a week earlier the total foreign exchange reserves had slipped by 621 million US Dollars to 316.605 billion US Dollars. The Gold reserves remained unchanged at USD 25.349 billion whereas the biggest component of the foreign reserves, FCA's, rose by 1.584 billion US Dollars to 285.251 billion US Dollars. India's reserve position in the IMF also increased by 12 million US Dollars to 2.987 billion US Dollars, the RBI data showed.