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Forex reserves cross $90 b

MUMBAI OCT. 18. With the highest ever inflows in recent times of over $2 billion, India's foreign exchange reserves zoomed past the $90 billion mark during the week ended October 10. The reserves, the highest ever in recent times, of $90.353 billion, have risen by $2.615 billion mainly due to fresh inflows and depreciation of the dollar vis-a-vis other foreign currencies.

The Reserve Bank of India said in its weekly statistical supplement released here today that foreign currency assets also spurted by $2.615 billion to $86.430 billion in the period under review. The Reserve Tranche Position with the International Monetary Fund saw a further addition of $6 million.

Gold reserves were static at $3.919 billion while special drawing rights remained unchanged at $4 million, the apex bank said. Aggregate deposits during the fortnight ended October 3 grew by Rs. 4,850 crores to Rs. 13,62,184 crores.

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