BUSINESS

Forex reserves surge $200 m

MUMBAI OCT. 5. For the second consecutive week, India's foreign exchange reserves continued to surge upwards to reach $62.72 billion, up by $200 million for the week ended September 27. The upsurge in the forex reserves was largely due to revaluation of the dollar vis-a-vis euro and fresh inflows.

For the reporting week, foreign currency assets increased by $200 million to $59.50 billion, according to the weekly statistical supplement released by the RBI here today.

There was no change in gold and special drawing rights, which remained static at $3.21 billion and $10 million respectively. — PTI

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