Mumbai, June 5 The rise in foreign currency reserves moderated during the week ended May 29. According to the Reserve Bank of India’s Weekly Statistical Supplement, foreign currency reserves increased by $1.667 billion to touch $262.306 billion.
In the pervious week, forex reserves had increased by $6.432 billion to touch $260.639 billion.
During the week under consideration, foreign currency assets increased by $1.291 billion to touch $251.456 billion. Foreign currency assets expressed in US dollar terms include the effect of appreciation/depreciation of non-US currencies like euro, sterling and yen held in reserves.
This was the week when the dollar gained against other global currencies like yen and euro. The euro weakened from $1.4023 at the beginning of the week to $1.3984 against the dollar.
Gold reserves increased by $373 million to touch $9.604 million. SDRs were unchanged at $1 million.
The country’s reserve tranche position in the IMF increased by $3 million to touch $1.245 billion
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