Forex reserves hit all-time high of $354 bn

The country's foreign exchange reserves rose to yet another all-time high of $354.29 billion for the week ended June 12, recording a week-on-week rise of $1.57 billion, show data released on Friday.

The foreign exchange reserves have been rising this year, as the Reserve Bank of India has been mopping up dollar flows through public sector banks.

Foreign currency assets rose $1.57 billion to $329.58 billion. During the week, gold reserves remained unchanged at $19.34 billion. Special drawing rights rose $4.2 million to $4.05 billion, while the country's reserve position with the International Monetary Fund stood at $1.31 billion, a rise of $1.4 million.