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The country's foreign exchange reserves have increased by a modest $59 million to $310.562 billion for the week ended June 17, according to the ‘Weekly Statistical Bulletin' released by the Reserve Bank of India.
The reserves have gone up in the week after decreasing by $2.401 billion to $310.503 billion in the previous week ended June 10.
The increase in reserves is mainly on account of currency revaluation. In the week under consideration, foreign currency assets went up by $99 million to $278.610 billion.
Foreign currency assets expressed in dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, sterling and yen, held in reserves.
The euro had weakened against the dollar in the week. The euro moved from $1.438 at the beginning of the week (June 14) to $1.411 on June 17. In the middle of the week, the euro had risen to a high of $1.443 (June 15).
In the week under review, the country's reserve position at the International Monetary Fund fell by $16 million to $2.964 billion. Meanwhile, SDRs also saw a $24 million drop to $4.597 billion.
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