Online edition of India's National Newspaper
Sunday, Aug 07, 2005
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MUMBAI: Buoyed by rising inflows and revaluation of international currencies India's foreign exchange reserves spurted by a steep $3.06 billion, the highest in recent times, for the week ended July 29. These reserves stood at $140.600 billion, a rise of $3.062 billion, according to the Reserve Bank of India's weekly statistical supplement released here on Saturday. The rise in inflows is mainly due to the revaluation of international currencies and intervention by the RBI in the domestic forex market to mop up dollars after China revalued its currency, yuan, analysts said. Foreign currency assets also shot up by $3.066 billion to $134.587 billion.
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