Mumbai: Foreign exchange reserves surged ahead by a record inflows of over $ 1.7 billion to touch $ 103.82 billion during the week ending January 9, 2004.

The reserves grew by $ 1,721 million due to inflows, foreign exchange remittances, Dollar revaluation vis-à-vis other foreign currencies and stood at $ 1,03,824 million, according to the Reserve Bank of India's (RBI) weekly statistical supplement released in Mumbai today (Jan 17, 2004).

The foreign currency assets also rose by $ 1,721 million to stand at $ 99,606 million, the RBI said.

Gold reserves and Special Drawing Rights were static at $ 4,215 million and $ three million respectively during this period.

India's Reserve Tranche Position (RTP) with the International Monetary Fund grew by another $ 10 million to $ 1,326 million, the central bank said adding the RTP may change from time to time due to India's transactions with the IMF as well as changes in SDR exchange rates vis-a-vis Rupee and the Dollar.

Loans and advances to Central Government continue to be at a nil balance, while that to State Governments increased by Rs 1,867 crore to Rs 7,743 crore during this period, it said.