[oracle11g] How to update cursor limit for ORA-01000: maximum open cursors exceed

I have found my max number of cursors per database to be 300 from the following query:

select max(a.value) as highest_open_cur, p.value as max_open_cur
  from v$sesstat a, v$statname b, v$parameter p
  where a.statistic# = b.statistic# 
  and b.name = 'opened cursors current'
  and p.name= 'open_cursors'
  group by p.value;

I tried to update the amount to 1000 with this:

  update v_$parameter
  set value = 1000
  where name = 'open_cursors';

But I am seeing this error:

SQL Error: ORA-02030: can only select from fixed tables/views
02030. 00000 -  "can only select from fixed tables/views"
*Cause:    An attempt is being made to perform an operation other than
           a retrieval from a fixed table/view.
*Action:   You may only select rows from fixed tables/views.

What is the proper way to update the open_cursor value? Thanks.

you can update the setting under init.ora in oraclexe\app\oracle\product\11.2.0\server\config\scripts

RUn the following query to find if you are running spfile or not:

SELECT DECODE(value, NULL, 'PFILE', 'SPFILE') "Init File Type" 
       FROM sys.v_$parameter WHERE name = 'spfile';

If the result is "SPFILE", then use the following command:

alter system set open_cursors = 4000 scope=both; --4000 is the number of open cursor

if the result is "PFILE", then use the following command:

alter system set open_cursors = 1000 ;

You can read about SPFILE vs PFILE here,

http://www.orafaq.com/node/5