Foreign exchange reserves rose $6.4 bn during the week ended May 22, largely on account of forex inflows through the portfolio route and partly on account of revaluation of non-dollar assets in reserves.
While the government has continued to maintain higher outstandings under ways and means advances (WMA) over and above the agreed limit of Rs 20,000crore between Reserve Bank and the government for the sixth consecutive 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 SDR rose $6.4bn to touch $260.6bn during the week ended May 22, the highest weekly rise since April’08.
Source : The Economic Times