India's foreign exchange reserves continue to scale new heights and crossed the $79 billion mark following inflows of $666 million during the week ending May 17.
Foreign exchange reserves rose by $666 million to touch $79.225 billion in the reporting week, according to Reserve Bank of India's weekly statistical supplement released in Mumbai on Saturday.
Foreign currency assets rose from $75.164 billion to $75.830 billion, it said.
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 remained static at $3.389 billion while special drawing rights remained unchanged at $6 million.
The loans and advances to the central government grew by Rs 464 crore (Rs 4.64 billion) at Rs 8,857 crore (Rs 88.57 billion) while that to the state governments declined by Rs 2,506 crore (Rs 25.06 billion) at Rs 1,406 crore (Rs 14.06 billion), the RBI added.
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