Forex reserves exceed 30 bn

MUMBAI, JAN 8: India8217;s foreign exchange reserves reached the level of 30,012 million as on January one, 1999. The increase in reserves, over the previous week amounted to 45 million, after allowing for a reduction of 102 million in SDR special drawing rights holdings on account of repayments to the IMF International Monetary Fund and revaluation of gold reserves.

According to Reseve Bank of India8217;s RBI weekly statistical supplement, foreign currency assets FCA as on January one increased by 147 million over the previous week and by 3.025 billion over the end-December 1997 figures.