Sunday, Feb 15, 2004
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MUMBAI, FEB. 14. India's foreign exchange reserves surged further by $1.609 billion to cross the $106 billion mark for the week ended February 6. Foreign exchange reserves swelled up by $1.609 billion to $106.607 billion in the period under review, according to the Reserve Bank of India's weekly statistical supplement released here today. Foreign currency assets also saw an increase of $1.535 billion to touch $102.315 billion, it said. Forex market sources said the reserves have gone up due to fresh inflows and revaluation of the U.S. dollar vis-a-vis other currencies. The RBI said gold reserves grew by $74 million to $4.289 billion while special drawing rights remained static at $3 million respectively. India's Reserve Tranche Position (RTP) with the International Monetary Fund (IMF) rose by $5 million to $1.317 billion, the central bank said.
— PTI
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