Forex Reserves Rise By $2.73 Billion To $593.32 Billion
In the previous reporting week, the overall reserves had declined by $5.87 billion to $590.588 billion.
The country's foreign exchange reserves increased by $2.734 billion to $593.323 billion for the week ended June 24 on the back of a surge in the core currency assets, the Reserve Bank of India said on Friday.
In the previous reporting week, the overall reserves had declined by $5.87 billion to $590.588 billion.
In the week ended June 24, the forex reserves swelled due to an increase in Foreign Currency Assets, a major component of the overall reserves, and also in gold reserves, RBI said.
FCA increased by $2.334 billion to $529.216 billion, according to the Weekly Statistical Supplement released by RBI.
Expressed in dollar terms, FCAs include the effect of appreciation or depreciation of non-U.S. units like the euro, pound and yen held in the foreign exchange reserves.
Value of the gold reserves surged by $342 million to $40.926 billion.
Special Drawing Rights with the International Monetary Fund were up by $55 million to $18.21 billion for the week ended June 17, RBI said.
The country's reserve position with IMF rose by $3 million to $4.97 billion in the reporting week.