Forex reserves up by $88mn

India's foreign exchange reserves rose by $88 million to $141.54 billion for the week ended April 15, 2005.

The country's foreign exchange reserves now stand at $1,41,545 million, an increase of $88 million over the last week's reserves of $1,41,457 million, according to the RBI's weekly statistical supplement released today.

This is the third week in a row when the forex kitty has seen a marginal rise as against high level of inflows in March.

The marginal rise is mainly due to revaluation of international currencies and remittances while the fund flow from foreign institutional investors has slowed down, analysts said.

The foreign currency assets were up by $86 million to reach at $1,35,610 million for the reporting week.

Gold reserves and SDRs remained static at $4,500 million and $five million respectively.

The country's reserve tranche position in the IMF was up by $2million to $1,430 million.

Loans and advances to the state government were up by Rs 2,519 crore to Rs 4,220 crore while that to the central government showed a nil balance.