Forex reserves swell by $1.78 bn to touch $289.7 bn

India's foreign exchange reserves rose USD 1.78 billion to reach USD 289.67 billion during the week ended June 7 on account of a healthy increase in currency assets.
Total reserves had slid by USD 4.18 billion to USD 287.9 billion in the previous reporting week.
Foreign currency assets, a major component of the forex reserves, rose USD 1.62 billion to USD 260.13 billion for the week ended June 7, the Reserve Bank said today.
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 yen, held in the reserves, the apex bank said.

The gold reserves were unchanged at USD 1.138 billion, the apex bank said.
For the week under review, the special drawing rights (SDRs) were up by USD 61 million at USD 4.387 billion.
The country's reserve position with the IMF was also up by a whopping USD 101 million at USD 2.326 billion, the apex bank data showed.