India's forex reserves zoom to $144.375 billion

India's foreign exchange reserves rose by $1.73 billion for the week ended August 12, 2005.

The forex reserves stood at $144.375 billion, a rise of $1.738 billion, during the week under review, according to Reserve Bank of India's weekly statistical supplement released in Mumbai on Saturday.

The rise in inflows is mainly due to the revaluation of international currencies especially US dollars, analysts said. The country's foreign exchange reserves over the past three weeks have increased by a whopping $6.82 billion.

Foreign currency assets also increased by $1.858 billion to $1.38,524 billion, it said.

Gold reserves and Special Drawing Rights (SDRs) remained static at $4.395 billion and $4 million, it said.