Forex reserves up by $169 million

By siliconindia   |   Tuesday, 02 March 2004, 20:30 IST
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MUMBAI: India's foreign exchange reserves on Saturday surged ahead with further accretion of $169 million due to fresh inflows and revaluation of the US currency vis-à-vis other currencies for the week ended February 20. The foreign exchange reserves stood at $1,07,675 million following inflows of $169 million, according to the Reserve Bank of India 's weekly statistical bulletin released here on Saturday. The foreign currency assets also saw a similar increase of USD 169 million to touch $1,03,384 million, it said. Gold reserves and special drawing rights during this period remained static at $4,289 million and $2 million respectively. India 's Reserve Tranche Position (RTP) with the International Monetary Fund (IMF) declined by $12 million to $1,324 million, the central bank said adding, the RTP may change from time to time due to India 's transactions with the IMF as well as changes in SDR exchange rates vis-à-vis rupee and the dollar. The loans and advances to Central Government continued with a nil balance while that to State Governments were up by Rs 2,080 crore at Rs 4,918 crore, the RBI added.Forex reserves up by $169 million to touch $107.67 billion