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Forex reserves rise to $93.66 billion

November 22, 2003 15:52 IST

There was further accretion of $452 million during the week ending November 14 taking the country's foreign exchange reserves to record high of $93.663 billion.

Fresh inflows swelled the reserves from $93211 billion to $93,663 billion till November 14.

Foreign currency assets rose to $89.740 billion, up by $453 million in the period under review, according to Reserve Bank of India's weekly statistical supplement released in Mumbai on Saturday.

Gold reserves remained unchanged at $3.920 billion. However, the special drawing rights declined by $1 million to touch $3 million, the central bank added.

The Reserve Tranche Position with the International Monetary Policy saw inflows of $18 million to raise it to $1.212 billion. The RTP may change, from time to time, due to India's transactions under Financial Transaction Plan with the IMF, it said.

RBI said loans and advances for central government maintained their nil balance while that for state governments rose by Rs 96 crore (Rs 960 million) at Rs 6,191 crore (Rs 61.91 billion).

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