After declining for two consecutive weeks, India's
forex reserves rose by USD 203.2 million to USD 312.585 billion in the
week to June 6 on the back of gain in currency assets. In the previous
week, total reserves dropped by USD 273.8 million to USD 312.382
billion. Foreign currency assets (FCAs), a major constituent of the
overall reserves, surged by USD 338.9 million to USD 285.630 billion in
the period under review, Reserve Bank said in its weekly statement here
today. FCAs, expressed in dollar terms, include the effect of
appreciation/depreciation of the non-US currencies such as the euro,
pound and yen held in reserves. The gold reserves, which remained
unchanged for past many weeks, declined by at USD 175.4 million to USD
20.790 billion in the reporting week. The special drawing rights was up
by USD 2.7 million to USD 4.452 billion, and the country's reserve
position with the IMF rose by USD 37 million to USD 1.712 billion in the
period under review, the central bank said.
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