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Forex reserves rise by $1.1 billion

MUMBAI, JAN. 31. After recording a drop in the previous week, India's foreign exchange reserves went up by over $ 1billion to cross the $104 billion mark for the week ended January 23.

The country's foreign exchange reserves rose by $1,111 million to $104.24 billion in the period under review, according to the Reserve Bank of India's weekly statistical supplement released here today.

The foreign currency assets also crossed the $100 billion mark. There was an increase of $1,111 million to touch $100.02 billion, it said. Forex market sources said the reserves have gone up due to fresh inflows and revaluation of the dollar vis-a-vis other currencies.

The RBI said gold and special drawing rights remained unchanged at $4,215 million and $3 million respectively. — PTI

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