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Home > Business > PTI > Report

Forex reserves inch closer to $75 billion

April 05, 2003 13:53 IST

After a dip last week, India's foreign exchange reserves again went up to record highs and were nearing the $75 billion mark during the week ended March 28, 2003.

Increased remittances and fresh inflows saw foreign exchange reserves spurt by $984 million as against a fall of $97 million in the previous week. The reserves now stand at $74,805 million, according to Reserve Bank of India's weekly statistical supplement released on Saturday.

The total inflows for the entire fiscal stood at $20,651 million as against $11,898 million in the previous year, according to RBI.

The foreign currency assets also rose considerably by $984 million to cross the $71 billion mark and stood at $71,076 million.

Gold reserves and special drawing rights remained static at $3,725 million and $4 million respectively, it added.

In the week ended March 28, loans and advances to the central government continued to have a nil balance but that to state governments recorded a surplus of Rs 2,254 crore (Rs 22.54 billion) at Rs 5,459 crore (Rs 54.59 billion), the apex bank said.

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Number of User Comments: 2

Sub: Surprising

This is surprising considering the professionalism of SBI overseas. THey still follow the same government like system not taking responsibility for their actions which has ...

Posted by Richa

Sub: well done rediff

Man,These figures are just we are the best among the forgein reserves..good JOB BJP government

Posted by gaurav



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