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Forex reserves up by $2.03 billion

August 13, 2005 15:34 IST

India's foreign exchange reserves rose by $2.03 billion at $142.6 4 billion, according to Reserve Bank of India's weekly statistical supplement released in Mumbai on Saturday.

The rise in inflows is mainly due to revaluation of international currencies and intervention by RBI in domestic forex market to mop up dollars after China revalued its currency yuan, analysts said.

Foreign currency assets also increased by $2.0 8 billion to $136.6 7 billion, it said.

Gold reserves declined by $58 million to $4.39 billion while Special Drawing Rights remained static at $4 million, it said.

The country's reserve tranche position rose by $16 million to $1.57 billion, it said.

Source:

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