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Forex reserves cross $102 billion

MUMBAI, JAN. 10 . Record inflows of over $1.5 billion further led India's foreign exchange reserves to cross a new high of $102.1 billion for the week ended January 2. These reserves rose by $1.513 billion due to inflows, foreign exchange remittances, dollar revaluation vis-a-vis other foreign currencies and stood at $102.103 billion, the Reserve Bank of India's weekly statistical supplement released here today said.

This is the third time during the past four weeks, when foreign exchange reserves had swelled by more than $1 billion each week. Foreign currency assets also increased by $1.336 billion to $97.885 billion, the central bank said.

Gold reserves went up by $177 million to $4.215 billion mainly due to revaluation while special drawing rights (SDRs) remained static at $3 million. — PTI

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