Premium
This is an archive article published on July 1, 2004

Forex reserves up at 36.8 bn

Propelled by foreign investment inflows, India8217;s foreign exchange reserves grew by 36.8 billion for the year ended March 31, 2004, ove...

google-preferred-btn
.

Propelled by foreign investment inflows, India8217;s foreign exchange reserves grew by 36.8 billion for the year ended March 31, 2004, over a rise of 21.3 billion in 2002-03.

The capital account net comprising foreign investment, banking capital, short term credit, external commercial borrowings and other items recorded a rise of 22.7 billion 12.8 bn in FY-03, according to the data released by Reserve Bank of India here today. The current account balance and valuation change contributed 8.7 billion 4.1 bn and 5.4 billion 4.4 billion respectively, it said.

The major sources of accretion to forex reserves during April 2003-March 2004 were foreign investment 39.4 per cent, comprising foreign direct investment 8.5 per cent and portfolio investment 30.8 per cent.

Foreign investment inflows rose by 14.5 billion 4.6. However, net inflows under banking capital were up by 6.2 billion 8.4 bn while non-resident Indian deposits rose by 3.6 billion 3.0 bn.

Short term credit at 1.6 billion USD one bn and other items in capital account at five billion USD 3.6 bn were other sources of accretion. External commercial borrowings, however, contracted by 1.9 billion 2.3 billion, RBI added. India8217;s foreign exchange reserves as on June 18 stood at 119.93 billion.

 

Latest Comment
Post Comment
Read Comments
Advertisement
Live Blog
PHOTOS
In pics: From concept supercars to electronic SUV's: Bharat Mobility Global Expo 2025 was all about innovation
In Pics: From Concept Supercars to Electric SUVs – Innovation at Bharat Mobility Global Expo 2025
Top Stories
devendra fadnavis
‘Not acceptable’: Fadnavis orders immediate exit as BJP ties up with Congress, AIMIM
jammu protests
Medical Commission withdraws MBBS nod to Vaishno Devi college amid row over admission to Muslims
Elnaaz Nourouzi
Bollywood actor fled Iran, lived in refugee camp, stood in line for food; speaks 7 languages: 'I can program robots'
Vir Das is all praise for Aamir Khan's mindful professionalism on set.
'Aamir Khan uses half a vanity van, comes half hour early, takes care of his entourage,' says Vir Das
Pakistani women shararat dance Dhurandhar
Pakistani women groove to 'Dhurandhar' track 'Shararat' at wedding; internet reacts to viral video: ‘Obsession is real’
The situation escalated when the horse defecated several times on the store’s floor
Man rides a horse through Target store, it defecates all over: video viral on X
While the ICC hasn’t made any official comment on the issue, it is understood that they held an internal meeting on Tuesday and then conveyed their decision to Bangladesh (BCB)
Bangladesh leaves door open, might travel to India for T20 World Cup
India (IND U19) vs South Africa (SA U19) 3rd Youth ODI Live: Catch updates from the third match in Benoni today. (BCCI)
LIVE Cricket Score, India vs South Africa U19 3rd ODI
No red lines, a political free-for-all, in Maharashtra civic polls
No red lines, and a political free-for-all in Maharashtra civic polls
Maduro
What is the legal case against Maduro — and why has he claimed to be a ‘prisoner of war’?
Hina Khan air quality
Hina Khan expresses concern over Mumbai's deteriorating air quality, says 'can't even breathe'
Samsung Galaxy Z TriFold First Look: In hand, the Galaxy Z Tri Fold feels more like a futuristic hybrid than a conventional smartphone, blurring the line between phone, tablet, and PC. (Image: Anuj Bhatia/The Indian Express)
I tried Samsung’s Galaxy Z TriFold at the world’s biggest tech show in Las Vegas, and here’s what it’s like to use
Advertisement
Must Read
Bangladesh leaves door open, might travel to India for T20 World Cup
While the ICC hasn’t made any official comment on the issue, it is understood that they held an internal meeting on Tuesday and then conveyed their decision to Bangladesh (BCB)
LIVE Cricket Score, India vs South Africa U19 3rd ODI
India (IND U19) vs South Africa (SA U19) 3rd Youth ODI Live: Catch updates from the third match in Benoni today. (BCCI)
The story of Mustafizur Rahman, the Bangladeshi pacer caught in a political storm
Mustafizur Rahman barely wooed controversies, was the darling of volatile press folk of his country, so much so that they followed him to cover IPL games, and a poster boy back home. (AP Photo)
I tried Samsung’s Galaxy Z TriFold at the world’s biggest tech show in Las Vegas, and here’s what it’s like to use
Samsung Galaxy Z TriFold First Look: In hand, the Galaxy Z Tri Fold feels more like a futuristic hybrid than a conventional smartphone, blurring the line between phone, tablet, and PC. (Image: Anuj Bhatia/The Indian Express)
Meta delays global rollout of Ray-Ban Display glasses, unveils new features at CES 2026
Meta Ray Ban Display 2
Dell admits it ‘got off course,’ brings back XPS laptop lineup with two new models
Dell XPS 13 will be coming later this year.
Hina Khan expresses concern over Mumbai's deteriorating air quality, says 'can't even breathe'
Hina Khan air quality
Advertisement
Buzzing Now
Pakistani women groove to 'Dhurandhar' track 'Shararat' at wedding; internet reacts to viral video: ‘Obsession is real’
Pakistani women shararat dance Dhurandhar
Man rides a horse through Target store, it defecates all over: video viral on X
The situation escalated when the horse defecated several times on the store’s floor
This 23-year-old Bengaluru entrepreneur is spending thousands to become the 'Bryan Johnson of India'
Bryan Johnson of India
After 10 daughters, Haryana woman delivers baby boy; sparks social media debate
The father, Sanjay Kumar, a 38-year-old daily wage labourer, said that he and some of his elder daughters had hoped for a son
Pune men trapped on balcony at 3 am call Blinkit delivery agent for help; video goes viral
Pune men trapped blinkit rider rescue
Jan 07: Latest News
Advertisement