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Foreign exchange reserves at $59,867 million

India's foreign exchange reserves continued with their upswing and inched closer towards the $60 billion-mark with a rise of $261 million during the week ended July 26.

The country's foreign exchange rose from $59,606 million to $59,867 million in the reporting week largely due to revaluation of the US dollar vis-a-vis the Euro and fresh investment inflows.

According to Reserve Bank of India's weekly supplement issued in Mumbai on Saturday, the foreign exchange assets increased by $261 million at $56,527 million.

In the previous week ended July 19, the foreign exchange reserves had increased by $817 million.

The special drawing rights and gold remained unchanged at $10 million and $3,330 million, the apex bank stated.

In the week ended July 26, loans and advances to the Central government decreased by Rs 4.43 billion at Rs 81.96 billion while that to the state governments fell by Rs 2.78 billion at Rs 44.12 billion, RBI added.

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