Forex reserves up by $1.36 billion

Mumbai: The foreign exchange reserves rose by USD 1.36 billion to USD 289.99 billion during the week ending June 29, the Reserve Bank said on Friday.

Foreign currency assets, a major component of the forex reserves, were up by USD 1.17 billion to USD 256.95 billion during the reporting period, according to the weekly statistical supplement of the Reserve Bank.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies, such as the euro, pound and the yen, held in the reserves, the apex bank said.

The gold reserves were up USD 175 million at USD 25.76 billion, the apex bank said.

For the week under review, the special drawing rights (SDRs) were up USD 8.4 million to USD 4.379 billion, while the country's reserve position with the IMF was also up USD 5.6 million to USD 2.89 billion, the apex bank data showed.

PTI