| Date: |
05-07-2014 |
| Subject: |
India's foreign exchange reserves rise to $315.779 billion as of June 27: RBI |
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KOLKATA: India's foreign exchange reserves grew by $857 billion in the week to June 27 as foreign institutional investors continued pumping in dollars in the local equities and Reserve Bank of India bought it from local markets to ease currency volatility.
The reserves rose to $315.779 billion, RBI said in its weekly bulletin. The reserves is steadily rising towards its all-time high of $321 billion, last seen three years back.
Foreign currency assets, the major contributor to reserves, rose $850.9 billion to $288.813 billion. Foreign currency assets expressed in dollar terms include the effect of appreciation or depreciation of non-US currencies such as euro, pound and yen.
Gold reserve with RBI remained at $20.790 billion.
Source : economictimes.indiatimes.com
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