India's foreign exchange reserves recorded one of the highest ever inflows of dollar -- $3.74 billion -- to cross the $130-billion mark during the week ended December 3, 2004 due to heavy flow of investments and revaluation of currencies.
The foreign exchange reserves during this period rose by $3.79 billion for the week under review to $130.72 billion, Reserve Bank of India said.
Foreign currency assets were also up by a record $3.55 billion to touch $124.76 billion, the RBI said.
Revaluation of international currencies, including the US dollar and gold and foreign institutional investments contributed to the spurt in reserves, analysts said.
The central bank intervened in the market and bought dollars to stem the upward pressure on the Indian currency during the reporting week, analysts said.
Gold reserves also went up by $189 millon to $4.54 billion while Special Drawing Rights remained static at $5 million, the RBI said.
India's Reserve Tranche Position with International Monetary Fund grew further by $52 million to reach a level of $ 1.41 billion, it said.
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