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Forex reserves cross $140 bn
By agencies
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Saturday, 19 March 2005, 20:30 IST
NEW DELHI: IndiaÂ’s foreign exchange reserves vaulted beyond $140 billion mark for the week ended March 11.
Inflows swelled by $2.87 billion due to heavy intervention in the market by Reserve Bank of India.
The inflows to forex reserves in the past four weeks grew by over $10 billion.
The reserves stood at $1,40,429 million according to the Reserve Bank of India's weekly statistical supplement released today.
The inflows were mainly due to intervention by the central bank in the forex market, FII inward investments and revaluation of foreign currencies, analysts said.
The country's foreign currency assets also grew by $2,823 million to touch the $1,34,584 million mark.
Gold reserves and SDRs remained static at $4,376 million and $5 million respectively, it added.
The country's reserve tranche position in the IMF rose by $47 million to $1,464 million.