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Forex reserves race past $96 bn
December 06, 2003 14:33 IST
India's foreign exchange reserves surged ahead by $698 million to race past the $96 billion mark for the week ended November 28, inching towards the $100 billion figure.
The country's foreign exchange reserves increased to $96.071 billion for the reporting period, despite the government recently prepaying foreign loans aggregating $1.4 billion.
According to the Reserve Bank of India's weekly statistical supplement released in Mumbai on Saturday, the foreign currency assets rose by $698 million at $92.148 billion.
RBI said the gold reserves and special drawing rights remained unchanged at $3.920 billion and $3 million respectively.
Reserve Tranche Position with the International Monetary Policy increased by $4 million at $1.219 billion.
The RTP may change, from time to time, due to India's transactions under Financial Transaction Plan with the IMF.
Loans and advances for central government maintained their nil balance while that for state governments declined by Rs 459 crore (Rs 4.59 billion) to Rs 5,883 crore (Rs 58.83 billion), it added.