FCAs swell by $433 m

MUMBAI, APRIL 14. India's foreign currency reserves swelled by $433 million at $42,689 million in the first week of the financial year 2001-02 due to fresh inflows.

The rise in reserves for the week ended April 6 was on account of a substantial increase of $419 million in foreign currency assets (FCA) to $39,962 million, according to the Reserve Bank of India's latest weekly statistical supplement.

The country's gold reserves also rose to $2,725 million registering an increase of $14 million in the reporting week. However, special drawing rights remained unchanged at $2 million.

Loans and advances by the Reserve Bank to the Central Government stood at Rs. 16,130 crores in the week ended April 6 against a nil balance in previous week, while those to State governments rose by Rs. 1,735 crores to Rs. 6,130 crores.

Money supply (M3) witnessed a slower growth at 15.8 per cent in the fortnight ended March 23 against 16 per cent.

- PTI

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Section  : Business
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