ALSO READEuro rises to one-month high against the dollar Rupee hits 3-month peak of 66.85 against US dollar Forex reserves down $57 mn to $363 bn due to dip in foreign currency assets RBI net purchaser of dollar in April; buys $566 millionn Rupee surges to nearly 3-month high, gains 22 paise against dollar
India's forex reserves increased by $799 million, mainly on account of rise in foreign currency assets (FCAs), to touch a record high of $381.955 billion in the week June 9 to June 16, RBI said. In the previous week, the reserves had declined marginally by $11.5 million to $381.156 billion. FCAs, a major component of overall reserves, rose by $802.4 million to $358.084 billion in the reporting week, the central bank said. Expressed in US dollar terms, FCAs include the effects of appreciation/depreciation of non-US currencies, such as the euro, pound and the yen, held in the reserves. Gold reserves remained unchanged at $20.095 billion. The special drawing rights with the International Monetary Fund dipped by $1.3 million to $1.469 billion. The country's reserve position with the IMF, too, declined by $2.1 million to $2.305 billion.