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Forex reserves up by $294 m to $143.35 b

     Mumbai: Rise in inflows of foreign currencies mainly due to revaluation of currencies such as Euro, Sterling and Yen has increased India's foreign exchange (forex) reserves by 294 million dollars for the week ended on October 7, 2005. According to weekly statistical supplement released here today by the Reserve Bank of India (RBI) the country's foreign exchange reserve stood at 143.353 billion dollars for the week ended October 7, 2005 as recording a net gain of 294 million dollars in comparison to previous week. During the reporting week foreign currency assets increased by 290 million dollars to 137.210 billion dollars. However, the gold reserves and Special Drawing Rights (SDRs) remained unchanged at 4.712 billion dollars and 4 million dollars, respectively. The country's Reserve Tranche Position with the International Monetary Fund (IMF) also increased by four million dollars to 1,427 million dollars during the week under review.