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Forex reserves up $178 m

MUMBAI MARCH 22. India's foreign exchange reserves continued to surge ahead and neared the $74 billion mark following fresh inflows of $178 million to touch $73.918 billion during the week ended March 14.

Foreign currency assets swelled by $178 million to $70.189 billion, according to the Reserve Bank of India's weekly statistical supplement released here today. These assets include the effect of appreciation/depreciation of euro, pound sterling and yen held in reserves, the RBI said.

Gold reserves and special drawing rights remained static at $3.725 billion and at $4 million respectively in the reporting week, the RBI added.

Loans and advances to the Central Government continued to have a nil balance but that to States declined by Rs. 2,010 crores to Rs. 4,060 crores for the week ended March 14. — PTI

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