Foreign exchange reserves rose $2.4 billion during the week ended June 12, largely on account of inflows mopped up by the central bank.
While the government has reained its excesses and brought down the balances under the ways and means advances (WMA) within the agreed limit of Rs 20,000 crore between Reserve Bank and the government after improving its position for one week.
According to the latest data released by the Reserve Bank of India in its weekly statistical supplement (WSS), total foreign exchange reserves including gold and special drawing rights (SDR - currency with the International Monetary Fund) rose $ 2427 million to touch $263.6 billion during the week ended June 12. Almost the entire growth in reserves was on account of the rise in foreign currency assets, which went up $ 2,431 million, while the reserves with the IMF dipped $4 million.
Source : The Economic Times