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Sunday, July 15, 2001

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Forex reserves up $141 m

MUMBAI, JULY 14. Foreign currency reserves continued their upswing with a further increase of $141 million to $43.60 billion for week ended July 6.

Foreign currency assets (FCA) rose by $159 million to $40.79 billion in the reporting week, according to Reserve Bank of India's weekly statistical supplement here.

Gold reserves, however, have declined by $18 million to $2.80 billion. Special drawing rights remained static at $4 million, the apex bank said. Foreign currency assets expressed in dollar terms include the effect of appreciation/depreciation of non-us currencies such as Euro, sterling and yen.

Aggregate deposits in case of scheduled commercial banks rose by Rs. 10,098 crores to Rs. 10,13,074 crores for the fortnight ended June 29. Bank credit increased by Rs. 1,992 crores (0.4 per cent) to Rs. 5,18,657 crores. Food credit has risen by Rs. 1,542 crores to Rs. 50,340 crores while non-food credit rose by Rs. 450 crores to Rs. 4,68,317 crores, RBI said.

Loans and advances by the Reserve Bank to Central Government increased by Rs. 8,253 crores in the week ended July 6 to Rs. 17,267 crores while that to the state governments by Rs. 1,221 crores to Rs. 4,824 crores, the apex bank added.

- PTI

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