Forex reserve up by $0.88 billion at $413 billion

India's foreign exchange reserves increased by $879.5 million to $413.109 billion in the week to June 8, helped by rise in foreign currency assets, the Reserve Bank data showed today.

In the previous week, the reserves had declined by $593.7 million to $412.230 billion.

The reserves had touched a record high of $426.028 billion in the week to April 13, 2018. It had crossed the $400-billion mark for the first time in the week to September 8, 2017, but has since been fluctuating.

In the reporting week, the foreign currency assets, a major component of the overall reserves, rose by $875.4 million to $388.391 billion.

Expressed in US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of the non-US currencies such as the euro, the pound and the yen held in the reserves.

Gold reserves remained unchanged at $21.189 billion in the reporting week, the data showed.

The special drawing rights with the International Monetary Fund (IMF) rose by $1.8 million to $1.499 billion.

The country's reserve position with the IMF also increased by $2.3 million to $2.029 billion, the apex bank said.

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