FCAs decline by $119m

By Our Corporate Reporter

CHENNAI, APRIL 30. Foreign currency assets have declined by $119 million during the week ended April 21 to $35.24 billions. Gold holdings and SDRs (special drawing rights) were unchanged at $2.97 billion and $8 million respectively. From end-December 1999, FCAs were up by $3.25 billion, gold holdings by $35 million and SDRs by $4 million. On a year to year basis, the growth in FCAs was $5.62 billion and in gold holdings $14 million.

Rise in Centre's borrowings

On the basis of the weekly statistical supplement of the Reserve Bank of India, borrowings of the Central Government from the RBI have risen by Rs. 1,565 crores in the week ended April 21 to Rs. 12,157 crores from Rs. 10,592 crores while those of the State governments were lower by Rs. 1,109 crores at Rs. 5,429 crores against Rs. 6,538 crores.

Reserve money has increased by Rs. 1,870 crores in the week ended April 21 to Rs. 2,77,129 crores. On a year-to-year basis, the growth was Rs. 17,233 crores (6.6 per cent). The net RBI credit to Government was higher by Rs. 3,268 crores in a week to Rs. 1,58,724 crores. The increase in the current financial year so far was Rs. 9,695 crores (6.5 per cent) against Rs. 3,424 crores (2.2 per cent). On a year-to-year basis, the growth was Rs. 2,761 crores (1.8 per cent).

Growth in money supply in the fortnight ended April 7 was Rs. 30,942 crores (2.8 per cent) and stood at Rs. 11,46,360 crores.

The growth in the current financial year so far was Rs. 34,652 crores (3.1 per cent) against Rs. 10,780 crores (Rs. 1.1 per cent).

On a year-to-year basis, the growth under this head was Rs. 1,56,947 crores (Rs. 15.9 per cent) against Rs. 1,59,264 crores (19.2 per cent) in the same period in 1999.

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