Forex Reserves Up at $312.5 Billion as of June 6: RBI

After declining for two consecutive weeks, India's forex reserves rose by $203.2 million to $312.585 billion in the week to June 6 on the back of gain in currency assets.

In the previous week, total reserves dropped by $273.8 million to $312.382 billion.

Foreign currency assets (FCAs), a major constituent of the overall reserves, surged by $338.9 million to $285.630 billion in the period under review, the Reserve Bank of India (RBI) said in its weekly statement in Mumbai on Friday.

FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of the non-US currencies such as the euro, pound and yen held in reserves.

Gold reserves, which remained unchanged for past many weeks, declined by $175.4 million to $20.790 billion in the week under review.

Special drawing rights rose by $2.7 million to $4.452 billion, and the country's reserve position with the IMF rose by $37 million to $1.712 billion in the period under review, the apex bank said.