Foreign currency reserves up $118m

CHENNAI, JUNE 30. India's foreign currency reserves continued their upswing with a further increase of $118 million to $43.278 billion during the week ended June 22.

The foreign currency assets (FCA) rose to $40.458 billion, up by $118 millions, in the reporting week, according to the Reserve Bank of India's weekly statistical supplement.

Gold reserves and special drawing rights (SDRs) were $2,816 million and $4 million respectively, same as in the previous week, the RBI said.

Foreign currency assets expressed in dollar terms include the effect of appreciation/depreciation of non-U.S. currencies such as Euro, pound sterling and yen.

Loans and advances of RBI to the Central Government declined by Rs. 5,866 crores in the week ended June 22 to Rs. 6,005 crores while that to the State governments rose by Rs. 3 crores to Rs. 3,259 crores.

Aggregate deposits of scheduled commercial banks fell by Rs. 56 crores to Rs. 10,02,976 crores during the fortnight ended June 15.

Bank credit in the reporting fortnight stood at Rs. 5,16,665 crores, down by Rs. 972 crores (0.2 per cent).

- PTI

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