a rise in foreign exchange of over $1 billion in the previous
week, Indias foreign exchange reserves crossed a
record high level of $70 billion in the week ended 27
export remittances and revaluation of the euro vis-à-vis
the US dollar led to a rise of $783 million at $70,291
in the countrys foreign exchange reserves for the
period under review.
In the 52 weeks
period ended 27 December 2002, the total reserves grew
by $22.24 billion. According to the Reserve Bank of Indias
weekly statistical supplement, the foreign currency assets
reached $66,981 million - up by $783 million.
the previous week ended 20 December 2002, the foreign
exchange reserves of the country rose sharply by $1,073
million to reach $69,508 million. They had increased by
$896 million, $828 million, $817 million and $755 million
during the week ended 28 June, 6 December, 19 July and
8 November 2002, respectively.
Gold and special
drawing rights remained unchanged at $3,303 million and
$ 7 million, respectively.