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Forex reserves up $491 m

MUMBAI SEPT. 20. India's foreign exchange reserves moved up further following fresh inflows of $491 million to $87.856 billion during the week ended September 12.

Foreign currency assets also went up by $490 million to $84.132 billion in view of the appreciation in value of non-U.S. currencies such as euro, pound sterling and yen held in reserves, according to the Reserve Bank of India's weekly statistical supplement. Gold reserves were static at $3.720 billion while special drawing rights increased by $1 million to $4 million.

Loans and advances to the Central Government had a nil balance while that to States declined by Rs. 1,112 crores to Rs. 2,393 crores, the apex bank said.

Aggregate deposits of scheduled commercial banks rose by Rs. 12,092 crores to Rs. 13,74,373 crores during the fortnight ended September 5.

Bank credit was up by Rs. 5,660 crores at Rs. 732,904 crores. Food credit was up by Rs. 324 crores at Rs. 41,606 crores while non-food credit increased by Rs. 5,336 crores to Rs. 691,298 crores.

PTI

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