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Forex reserves up $54 million

MUMBAI, SEPT. 11. India's foreign exchange reserves showed a marginal rise of $ 54 million during the week-ended September 3 after witnessing a sharp decline of $1,370 million in the previous week.

The foreign exchange reserves increased by $54 million to $1,17,576 million, the Reserve Bank of India said. The foreign currency assets, during the period, also rose by $35 million to $1,12,136 million, the RBI said in its weekly statistical supplement released today.

Following revaluation, gold reserves went up by $17 million to $4,140 million while Special Drawing Rights remained static at $one million, the central bank said. India's Reserve Tranche Position with International Monetary Fund grew by $ two million and stood at $1,299 million, it said. Loans and advances to Central government grew to Rs. 1,710 crores from a nil balance last week while that to State governments declined by Rs. 1,090 crores to Rs. 1,281 crores. During the fortnight ended August 27, aggregate deposits grew by Rs. 7,899 crores (0.5 per cent) to Rs. 15,89,186 crores. — PTI

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