Forex reserves touch record $130.72 bn
Monday, 13 December 2004, 20:30 IST
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MUMBAI: Large-scale flow of funds from overseas propelled India's foreign exchange reserves to a new all-time high of $130.72 billion in the week ended Dec 3, said the Reserve Bank of India (RBI). This represents an increase of a whopping $3.79 billion over the previous week, showed the weekly figures issued by the central bank here. During the last weekly period, the reserves registered a gain of $3.55 billion over the previous week to touch $124.76 billion, said the statement. The RBI said foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as Euro, Sterling, and Yen held in reserves. During the week ended Dec 3, gold reserves increased by $189 million to $4.54 billion. The country's reserve position in the International Monetary Fund, which is included in the total foreign exchange reserves since Apr 2, 2004 in keeping with the international best practice, rose $52 million to touch $1.41 billion.
Source: IANS
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