NEW DELHI: India’s foreign exchange (forex) reserves increased by $39.6 million to $296.57 billion for the week ended Dec.28, 2012, data released by the Reserve Bank of India (RBI) showed.

The reserves had gone down by $92.8 million to $296.53 billion for the week ended Dec.21, 2012.

The foreign currency assets (FCA) - the biggest component of the forex reserves - went up by $63.9 million at $262.01 billion, according to the weekly statistical supplement released by the RBI.

The FCA decreased by $169.9 million at $261.94 billion in the previous week.  The central bank said FCA in US dollar terms included the effect of appreciation or depreciation of non-US currencies held in reserve, such as the pound sterling, euro and yen.