India's forex reserves rise $8 mn to 263.6 bn

MUMBAI: India's forex reserves rose by USD 8 million to USD 263.652 billion for the week ended June 19 as compared to USD 263.644 billion in the previous week.

Foreign currency assets, during the week, jumped by USD 10 million to USD 252.808 billion against USD 252.798 billion in the previous week, RBI said in its weekly report.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies (such as Euro, Sterling, Yen) held in reserves, RBI said.

During the period, the country's gold reserves and special drawing rights (SDRs), remained same at USD 9.604-billion and USD 1-million respectively, the bank said.

India's reserve position in the International Monetary Fund (IMF) fell by USD 2-million to USD 1.239-billion in the week as compared to USD 1.241-billion in the previous week, RBI said.