Further rise in forex reserves

MUMBAI, FEB. 17. India's foreign currency reserves continued the upswing with a rise of $410 million at $41.68 billion for the week ended February 9 following continued institutional inflows and remittances from abroad.

The foreign currency reserves had crossed the $41 billion mark ($41.27 billion) in the previous week. The rise was solely due to foreign currency assets growing by $410 million at $ 38.93 billion compared to $38.52 billion a week earlier, according to the Reserve Bank of India's latest weekly statistical supplement. The reserves have risen from $34.73 billion on November 11 last to the present level of $41.68 billion.

Gold reserves and special drawing rights remained static at $2,751 million and $8 million respectively in the reporting week.

Loans and advances to the Central Government rose by Rs. 957 crores to Rs. 3,007 crores for the week ended February 9, while those to state governments increased by Rs.1,115 crores at Rs 4,557 crores.

- PTI

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Section  : Business
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