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Further rise in forex reserves

MUMBAI MARCH 1. After registering an increase of $616 million in the previous week, India's foreign exchange reserves rose by $71 million to $75.354 billion during the week ended February 21.

These reserves have maintained their upward swing for the 19th consecutive week.

According to the Reserve Bank of India's weekly statistical supplement released here today, foreign currency assets swelled by $76 million to $71.662 billion. While gold reserves remained static at $3.688 billion, special drawing rights declined by $5 million to $4 million in the reporting week, the RBI said.

Loans and advances to the Central Government had a nil balance but that to States recorded a rise of Rs. 420 crores at Rs. 5,742 crores for the week ended February 21, the RBI added.

PTI

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