labels: rbi, finance - general, economy - general, investments
Forex reserves reaches record high, cross $76-billion marknews
Our Economy Bureau
26 April 2003

Mumbai: India's foreign exchange reserves have crossed the $76-billion mark, a record high, during the week ended 18 April 2003.

The country's foreign exchange reserves increased by $326 million to reach $76, 077 million in the reporting week, according to the Reserve Bank of India's (RBI) weekly statistical supplement.

The foreign currency assets of the country grew by $326 million to $72,539 million, the RBI added. According to analysts, the rise is attributed to fresh inflows and revaluation of non-US currencies, including the euro, against the dollar.

The RBI said gold reserves and special drawing rights at $3,534 million and $4 million, respectively, remained unchanged.

The loans and advances to the central government rose by Rs 6,687 crore at Rs 18,329 crore while that to state governments increased by Rs 1,048 crore at Rs 4,730 crore, the apex bank added.


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Forex reserves reaches record high, cross $76-billion mark