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Forex reserves at $85b

MUMBAI AUG. 23. Buoyed by fresh inflows, India's foreign exchange reserves surged ahead and crossed the $85 billion mark during the week ended August 15.

Foreign exchange reserves during the week swelled by $418 million to $85.415 billion and do not include India's reserve tranche position (RTP) with the International Monetary Fund. The RTP as on August 15 stood at $969 million following a contribution of $3 million, it said.

Foreign currency assets also showed a hefty rise of $421 million at $81.785 billion during this period, according to the Reserve Bank of India's weekly statistical supplement released here today.

Gold reserves stood at $3.628 billion while special drawing rights fell by $3 million to $2 million, it added. .— PTI

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