India's forex reserves jump USD 1.57 bn to USD 354.29 bn

The country's foreign exchange reserves rose by USD 1.57 billion to USD 354.29 billion for the week ended June 12 on a surge in core currency assets, the Reserve Bank said today.
The overall reserves rose by USD 239.4 million to USD 352.713 billion in the previous reporting week.
Foreign currency assets, a major component of overall reserves, rose USD 1.569 billion to USD 329.58 billion in the reporting week, the RBI data showed.
Foreign currency assets, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as euro, pound and yen held in the reserves.

In FY15, there was an accretion to foreign exchange reserves to the tune of USD 61.4 billion compared with USD 15.5 billion year ago.
The gold reserves were flat at USD 19.340 billion at the end of the reporting week, the central bank said.
The special drawing rights with the International Monetary Fund were up by USD 4.2 million to USD 4.05 billion, while the country's reserve position with the fund also increased by USD 3.3 million to USD 1.31 billion, the data showed.