After recording a massive jump of over $1 billion in the previous week, India's foreign exchange reserves crossed a record high level of $70 billion in the week ended December 27.
Fresh inflows, export remittances and revaluation of the Euro vis-a-vis the dollar led to a rise of $783 million at $70,291 billion in the country's foreign exchange reserves for the period under review.
In the 52 weeks period ended December 27, 2002, the total reserves grew by $22.24 billion.
According to Reserve Bank of India's weekly statistical supplement, the foreign currency assets reached $66,981 million, up by $783 million.
In the previous week ended December 20, the foreign exchange reserves of the country rose sharply by $1,073 million to reach $69,508 million. They had increased by $896 million, $828 million, $ 817 million and $755 million during the week ended June 28, December six, July 19 and November eight respectively.
Gold and special drawing rights remained unchanged at $3,303 million and $7 million respectively.
Loans and advances to central government showed nil balance while that to state governments decreased by Rs 2,492 crore (Rs 24.92 billion) to Rs 5,399 crore (Rs 53.99 billion).