Home > Business > PTI > Report
Forex reserves cross $91 billion
October 25, 2003 13:43 IST
After registering a rise of over $2 billion in the previous week, India's foreign exchange reserves increased by $962 million to cross the $91 billion mark in the week ended October 17.
The country's foreign exchange reserves rose from $90,353 million to $91,315 million in the period under review, according to Reserve Bank of India's weekly statistical supplement released in Mumbai on Saturday.
The reserves have gone up mainly due to fresh inflows and depreciation of US dollar vis-a-vis other foreign currencies.
RBI said the foreign currency assets grew by $962 million at $87,392 million.
The Reserve Tranche Position with the International Monetary Fund saw a decline of $8 million. The apex bank said RTP may change from time to time due to India's transactions under the Financial Transaction Plan with the IMF as well as changes in special drawing right exchange rates vis-a-vis rupee and US dollar.
Gold reserves were static at $3,919 million while the special drawing rights remained unchanged at $4 million, it added.