Date:12/01/2003 URL: http://www.thehindu.com/2003/01/12/stories/2003011200391500.htm

Business

Forex reserves at $70.75b

MUMBAI JAN. 11. Fresh inflows, export remittances and revaluation of the euro vis-a-vis the U.S. dollar have further pushed up India's foreign exchange reserves closer to the $71 billion mark during the week ended January 3.

Foreign exchange reserves rose by $461 million to $70.752 billion in the period under review, according to Reserve Bank of India's weekly statistical supplement released here today.

Foreign currency assets increased by $320 million to $67.301 billion while gold reserves swelled by $141 million, due to revaluation, to $3.444 billion, the RBI said. Special drawing rights, however, remained unchanged at $7 million. — PTI