Marginal decline in forex reserves

MUMBAI, JUNE 2. India's foreign exchange reserves were down by $5 million to $42,824 million for week ended May 25, 2001.

The decline was entirely due to the drop in foreign currency assets (FCA) to $40,125 million, according to the Reserve Bank of India's weekly statistical supplement.

Gold reserves and special drawing rights, however, remained unchanged at $2,695 million and $4 million.

The foreign currency assets expressed in the U.S. dollar terms include the effect of appreciation/ depreciation of non-us currencies such as euro, sterling and yen.

Loans and advances by the RBI to Central Government rose by Rs. 4,888 crores in the week ended May 25 to Rs.13,413 crores while that to the state Governments increased by Rs. 570 crores to Rs. 3,794 crores, the apex bank said.

Aggregate deposits in case of scheduled commercial banks grew by Rs. 6,981 crores (0.7 per cent) at Rs. 9,98,299 crores in the fortnight ended May 18, the RBI said.

Bank credit in the reporting fortnight stood at Rs. 5,20,329 crores, a rise of Rs. 2,769 crores (0.5 per cent).

The food credit increased by Rs. 3,339 crores to Rs. 46,436 crores while non-food credit declined by Rs. 571 crores to Rs. 4,73,893 crores, RBI added.

- PTI

Send this article to Friends by E-Mail

Section  : Business
Previous : Improved prices augur well for paper units
Next     : Shareholders' nod for raising FII stake in Infosys