Forex reserves soar by $1.04 billion

Forex reserves increased by $1.04 billion for the week ended June 17, 2005.

The forex reserves stood at $1,39,566 million, a rise of $1,040 million, during the week under review, according to RBI's weekly statistical supplement released today.

The foreign currency assets also registered a rise of $1,046 million to $1,33,613 million for the reporting week.

Gold reserves and Special Drawing Rights (SDRs) remained static at $4,376 million and $4 million respectively.

The country's reserve tranche position dropped by $6 million to $1,573 million, it said.