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Forex reserves up by $343 million
June 14, 2003 14:23 IST
India's foreign exchange reserves swelled by $343 million to record high of $81.672 billion, during the week ended June 6.
Foreign currency assets rose by $59 million to $77.998 billion in the period under review, according to Reserve Bank of India's weekly statistical supplement issued in Mumbai on Saturday.
The rise is mainly due to fresh inflows and revaluation of non-US currencies, including the euro, against the US dollar, analysts said.
RBI said gold reserves recorded a rise of $284 million at $3.673 billion while special drawing rights remained static at $1 million.
The loans and advances to the central government fell by Rs 1,398 crore (Rs 13.98 billion) at Rs 12,623 crore (Rs 126.23 billion) while that to state governments declined by Rs 1,900 crore (Rs 19 billion) at Rs 1,922 crore (Rs 19.22 billion), the apex bank said.
Aggregate deposits during the fortnight ended May 30 increased by Rs 6,830 crore (0.5 per cent) to Rs 13,28,582 crore (Rs 13,285.82 billion) while bank credit declined by Rs 487 crore (Rs 4.87 billion) to Rs 7,30,653 crore (Rs 7,306.53).
Food credit during this period was up by Rs 1,770 crore (Rs 17.7 billion) at Rs 51,047 crore (Rs 510.47 billion) while non-food credit fell by Rs 2,256 crore (Rs 22.56 billion) at Rs 6,79,606 crore (Rs 6,796.06 billion), the apex bank added.
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