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Our Bureau

Mumbai, Oct. 27

Forex reserves rose by $1.202 billion to $166.153 billion for the week ended October 20, due to a rise in foreign currency assets. In the previous week, reserves fell by $324 million to $164.95 billion.

Foreign currency assets increased by $1.199 billion to touch $159.304 billion during the week, according to RBI's Weekly Statistical Supplement. "FII inflows at $558 million have moved into the stock markets in the week under consideration.

With corporates turning out good Q2 results, dollar inflows could rise impacting the rupee," said a treasury head of a private bank. The reserves with IMF rose by $3 million to $646 million. Major currencies such as the euro and the yen gained against the dollar during the week. The euro traded in the range of $1.2531 to $1.2613. Gold reserves were unchanged at $6.202 billion and Special Drawing Rights remained at $1 million. Dealers said the outlook on rupee is bullish and the home currency could touch 45.05.

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