India's forex reserves up $982 million

Mumbai, June 22 (IANS) India's foreign exchange (forex) reserves increased by $982.3 million to $290.65 billion for the week ended June 14, according to data released by the Reserve Bank of India.

The reserves had risen by $1.77 billion to $289.67 billion for the week ended June 7.

The foreign currency assets (FCA) - the biggest component of the forex reserves - grew by $962.5 million at $261.08 billion, the weekly statistical supplement of the central bank shows.

The FCA had increased by $1.61 billion at $260.12 billion in the previous week.

The central bank said FCA in US dollar terms included the effect of appreciation or depreciation of non-US currencies held in reserve, such as the pound sterling, euro and yen.

Gold reserves remained stagnant at $22.83 billion.

The special drawing rights (SDRs) rose by $13 million to $4.40 billion during the week under review, while reserves with the International Monetary Fund (IMF) went up by $6.8 million to $2.33 billion.

The SDRs had gained by $61 million to $4.38 billion during the previous week, while reserves with the IMF went up by $10 million to $2.32 billion.

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