Forex reserves surge by USD 3.439 bn as on Jun 1

Forex reserves surged by USD 3.439 billion to touch USD 208.37 billion as on Jun. 1, primarily on the back of a jump in foreign currency and assets collection, week on week basis. As per the weekly statistical supplement of the RBI released on Jun. 8, 2007, foreign currency and assets reached USD 201.002 billion on the back of USD 3.56 billion rise. During the same period, gold reserves declined by USD 125 million to USD 6,911 million. On the other hand, the special drawing rights (SDRs) and reserve position in IMF remained unchanged at USD 1 million and USD 459 million respectively during the same period. Foreign currency assets expressed in USD terms include the effect of appreciation/depreciation of non-US currencies (such as Euro, Sterling and Yen) held in reserves.

source : myiris.com