Drop in forex reserves

MUMBAI, SEPT. 22. India's foreign currency reserves declined by $77 million to $45.29 Billion during the week ended September 14.

The foreign currency assets (FCA) were down by $77 million to $42.47 billion in the reporting week, according to the Reserve Bank of India's weekly statistical supplement.

Gold reserves remained static at $2,817 million while special drawing rights remained unchanged at $4 million, the apex bank said.

Loans and advances by RBI to the Central Government fell by Rs. 5,310 crores to Rs. 8,789 crores while that to the States by Rs. 1,059 crores to Rs. 4,108 crores, the RBI said.

During the fortnight ended September 7, aggregate deposits in the case of scheduled commercial banks rose by Rs. 5,004 crores (0.5 per cent) to Rs. 10,35,143 crores.

Bank credit, however, fell by Rs. 183 crores to Rs. 527,634 crores.

Food credit declined by Rs. 568 crores to Rs. 50,069 crores while non-food credit was up by Rs. 385 crores at Rs. 477,565 crores.

- PTI

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