Further rise in forex reserves

MUMBAI, JAN. 27. India's foreign currency reserves continued to register a further rise of $116 million to $40,469 million for the week ended January 19.

Foreign currency assets increased by $110 million at $37,650 million as compared to $37,540 million in the previous week, according to the Reserve Bank of India's latest weekly statistical supplement.

Over the past eleven weeks, the reserves have risen from $34,734 million on November 11, 2000, to the present level of $40,469 million.

Special drawing rights increased by $6 million at $8 million while gold reserves remained static at $2,811 million in the reporting week.

Loans and advances to the Central Government were down by Rs. 2,836 crores for the week ended January 19, while those to states rose by Rs. 1,068 crores to Rs. 5,834 crores.

Aggregate deposits of scheduled commercial banks for the fortnight ended January 12 declined by Rs. 3,096 crores to Rs. 9,28,561 crores.

Bank credit in the reporting fortnight rose by Rs. 2,239 crores at Rs. 4,97,486 crores. Food credit was up by Rs. 968 crores at Rs. 38,417 crores. Non-food credit also increased by Rs. 1,271 crores to Rs. 4,59,069 crores.

- PTI

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Section  : Business
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