Mumbai: India's foreign exchange reserves increased by USD 55.8 million to USD 293.44 billion for the week ended February 17 due to increase in foreign currency assets, Reserve Bank of India (RBI) data showed.

Foreign currency assets, the biggest component of the forex reserves kitty, rose by USD 87.5 million to USD 259.53 billion during the week under review, according to the Reserve Bank of India's weekly statistical supplement.

The RBI did not provide any reasons for the change in foreign currency assets. It said the assets expressed in US dollar terms included the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve.

However, the value of special drawing rights (SDRs) fell by USD19.3 million to USD4.45 billion, and India's reserves with the International Monetary Fund (IMF) declined by USD12.4 million to USD2.72 billion. The value of gold reserves remained unchanged at USD26.72 billion.