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Forex reserves cross $90 billion

October 18, 2003 16:38 IST

With an inflow of $2 billion, the highest ever in recent times, India's foreign exchange reserves zoomed past the $90 billion mark for the week ended October 10.

The reserves, the highest ever in recent times, of $90.353 billion, has risen by $2.615 billion mainly due to fresh inflows and depreciation of US dollar vis-a-vis other foreign currencies.

The Reserve Bank of India said in its weekly statistical supplement released in Mumbai on Saturday that the country's foreign currency assets also spurted by $2.615 billion at $86.430 billion in the period under review.

The Reserve Tranche Position with the International Monetary Fund saw a further addition of $6 million.

Gold reserves were static at $3.919 billion while the special drawing rights remained unchanged at $4 million, the apex bank said.

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