India's forex reserves soar to new record

The Reserve Bank of India confirmed that India's foreign exchange reserves exceeded US$84 billion in July posting a new record high. Analysts said the rise in India is mainly due to fresh inflows and revaluation of non-US currencies, including the euro, against the US dollar.

Source: Asia Times

India's foreign exchange reserves crossed the US$84 billion mark following record inflows during the week ending July 18, 2003. The foreign exchange reserves jumped by $844 million and stood at $84.1 bil

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