Forex reserves cross $122 bn

Foreign exchange reserves increased $1.046 billion to $122.224 billion for the week ended November 5, 2004 when compared with $121.178 billion in the previous week, according to the weekly supplement released by the Reserve Bank of India on Saturday.

Foreign currency assets increased $882 million to $116.533

billion. While gold reserves increased $159 million to $4.351 billion, SDRs were unchanged at $5 million.

The Reserve Tranche Position with the IMF was up $5 million at $1.335 billion.