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Forex reserves rise $1.7 b

Our Bureau

Mumbai , March 26

THE country's forex kitty was boosted by $1.7 billion for the week ended March 18, taking the total reserves to $142.13 billion, according to the data released by the Reserve Bank of India on Saturday.

Forex reserves have been on the rise for the past several weeks. In the previous week ended March 11, there was an accretion of $2.87 billion to the kitty.

According to analysts, the increase in the reserves was on account of dollar inflows and revaluation of the currencies in the RBI's basket of currencies. They said the RBI was actively buying dollar in the market during the week.

The net FII inflows during week amounted to Rs 2,784 crore.

The foreign currency assets went up by $1.7 billion to reach $136.291 billion for the reporting week.

Gold reserves remained at $43.76 billion and SDRs $5 million. The country's reserve position in the IMF declined by $6 million to $14.58 billion.

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