Forex reserves decline further

MUMBAI, OCT. 21. India's foreign exchange reserves have further fallen by $298 million to $35.04 billion in the week ended October 13 over the previous week.

The drop in reserves was solely on account of the fall in foreign currency assets by $298 million to $32.21 billion, according to the Reserve Bank of India's latest weekly statistical supplement.

Gold reserves, however, remained static at $2,834 million while special drawing rights were unchanged at $2 million in the reporting week.

Forex reserves in the previous week ended October 6 were down by $98 million to $ 35.34 billion.

FCAs expressed in dollar terms include the effect of appreciation/depreciation of non-U.S. currencies such as euro, pound sterling and yen held in the reserves.

Loans and advances extended by the RBI to Central Government increased by Rs. 3,025 crores to Rs. 5,551 crores while those to state governments declined by Rs. 230 crores to Rs. 3,749 crores in the week ended October 13, over the previous week, the supplement said.

Aggregate deposits of scheduled commercial banks in the fortnight ended October 6 increased by Rs. 14,317 crores over the previous fortnight to Rs. 8,87,264 crores. Food credit extended by the banks in the same period rose by Rs. 794 crores to Rs. 32,884 crores while non-food credit was up by Rs. 7,837 crores to Rs. 4,42,572 crores.

- PTI

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