Forex reserves up $2 b to $289.4 b

India’s foreign exchange reserves jumped by $2.01 billion in the week ended June 15, compared with an increase of $1.52 billion in the previous week. As on June 15, the forex reserves, comprising predominantly of foreign currency assets and gold, stood at $289.39 billion. Since March-end 2012, the country’s forex reserves have dipped by $5 billion. During the reporting week, the rupee had appreciated from 55.74 (close on June 11 against the dollar) to 55.30 (on June 15). Further, India’s reserve position in the IMF and Special Drawing Rights increased by $58.3 million and $25.7 million, respectively. —