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Forex reserves up by $.59 billion; cross $80 bn
Mumbai, May 31: India`s foreign exchange reserves continue to scale new heights and crossed the $80-billion-mark following inflows of $1,591 million during the week ended May 23.
Mumbai, May 31: India's foreign exchange reserves continue to scale new heights and crossed the $80-billion-mark following inflows of $1,591 million during the week ended May 23.
Foreign exchange reserves rose by $1,591 million to touch $80,816 million in the reporting week, according to Reserve Bank of India's weekly statistical supplement released here on Saturday.
Foreign currency assets rose by $1,596 million to $77,426 million, it added.
Foreign currency assets rose by $1,596 million to $77,426 million, it added.
The rise is mainly due to fresh inflows and revaluation of non-US currencies, including the Euro, against the US dollar, analysts said.
RBI said gold reserves remained static at $3,389 million. The special drawing rights declined by $5 million to $1 million.
Bureau Report