Business & Economy

India's forex reserves rise by $ 1.17 billion to new high of $ 355.459 billion

NetIndian News Network

Mumbai, June 26, 2015

Going up for the fourth consecutive week, India's foreign exchange reserves rose by $ 1.17 billion to a new high of $ 355.459 billion in the week ended June 19, the Reserve Bank of India (RBI) said here today.
The country's forex reserves had gone up by $ 1.575 billion to the previous high of $ 354.288 billion in the previous week.
In its weekly statistical supplement, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, had gone up by $ 1.135 billion to $ 330.717 billion during the week.
Foreign currency assets expressed in US dollar terms include the effect of
appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
According to the bulletin, the country’s gold reserves remained unchanged at $ 19.340 billion, while its special drawing rights (SDR) went up by $ 26.6 million to $ 4.079 billion in the week.
 India's reserve position in the Indian Monetary Fund (IMF) increased by $ 8.5 million to $ 1.322 billion during the week, the bulletin added.
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