Foreign exchange reserves rises to $314.9 billion

KOLKATA: India’s foreign exchange reserves surged by $1.386 billion in the week to June 20 as Reserve Bank of India purchased dollars from the foreign exchange market amid steady inflows. The reserves rose to $314.922 billion, RBI said in its weekly bulletin.

Foreign currency assets, the major contributor to reserves, rose $1.373 billion to $287.962 billion. Foreign currency assets expressed in dollar terms include the effect of appreciation or depreciation of non-US currencies such as euro, pound and yen. Gold reserve with RBI remained static at $20.790 billion.