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Forex reserves zoom to $110 bn

March 27, 2004 17:19 IST

Foreign exchange reserves climbed further by $ 402 million to a new record high of $109.998 billion during the week ended March 19 from $109.596 billion a week ago.

According to the Reserve Bank of India's weekly statistics report, on Saturday, the ever-increasing foreign currency assets, which surged by $ 402 million to $ 105.806 billion, contributed to the entire growth in the forex reserve. The gold reserve and the special drawing rights continued to remain unchanged at $ 4.19 billion and $2 million respectively.

The country's reserve tranche position with the International Monetary Fund also moved up by $ 14 million to $ 1.31 billion during the week.

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