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Forex reserves up at $118.62 bn

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May 22, 2004 13:46 IST

India's foreign exchange reserves rose marginally by $49 million to touch $118.62 billion for the week ended May 14.

The country's foreign currency assets increased by $70 million to $113.16 billion during the period under review, according to the Reserve Bank of India's weekly statistical supplement issued in Mumbai on Saturday.

Gold reserves and special drawing rights remained static at $4.191 billion and $2 million, respectively.

India's Reserve Tranche Position with the International Monetary Fund declined by $21 million to $1.270 billion, the central bank added.

Loans and advances to the central government showed a nil balance while that to state governments were up by Rs 569 crore (Rs 5.69 billion) to Rs 4,005 crore (Rs 40.05 billion), RBI added.

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