Forex reserves cross $140 bn

The country's foreign exchange reserves vaulted beyond $140 billion mark as inflows into the kitty swelled by $2.87 billion for the week ended March 11 due to heavy intervention in the market by Reserve Bank of India.

The inflows to forex reserves in the past four weeks grew by over $10 billion.

The reserves stood at $1,40,429 million, a rise of $2,870 million over last week, according to the Reserve Bank of India's weekly statistical supplement released in Mumbai on Monday.

The inflows were mainly due to intervention by the central bank in the forex market, FII inward investments and revaluation of foreign currencies, analysts said.

The country's foreign currency assets also grew by $2,823 million to touch the $1,34,584 million mark.

Gold reserves and SDRs remained static at $4,376 million and $5 million respectively, it added.

The country's reserve tranche position in the IMF rose by $47 million to $1,464 million.