Forex reserves up $458 m

MUMBAI, FEB. 3. Foreign currency reserves continue to maintain the upswing with a further rise of $458 million, nearly touching $41 billion mark for the week ended January 26.

The upsurge continued as the foreign currency reserves rose to $40.93 billion for the week ended January 26 against $40.47 billion in the previous week, the Reserve Bank of India said in its weekly statistical supplement issued here today.

The increase was solely due to foreign currency assets (FCA) rising by $458 million at $38.11 billion compared to $37.66 billion in the previous week.

Over the past twelve weeks, reserves rose to $40.93 billion from $34.74 billion on November 11, 2000.

The FCA expressed in dollar terms include the effect of appreciation/depreciation of non-U. S. currencies such as yen, euro and sterling held in reserves.

Gold and special drawing rights remained static at $2.8 billion and $8 million respectively.

Loans and advances to the Central Government stood at a nil balance for the week ended January 26, while that to States declined by Rs. 1,546 crores to Rs. 4,288 crores.

- PTI

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