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Forex reserves up by $253 mn

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April 16, 2005 13:33 IST

India's foreign exchange reserves grew marginally by $253 million to $141.45 billion for the week ended April 8, 2005.

The country's foreign exchange reserves now stand at $1,41,457 million, an increase of $253 million over last week's reserves of $1,41,204 million, according to the RBI's weekly statistical supplement released in Mumbai on Saturday.

The marginal rise is mainly due to revaluation of international currencies and increased remittances, analysts said.

The foreign currency assets were up by $262 million to reach $1,35,524 million for the reporting week.

Gold reserves and SDRs remained static at $4,500 million and $ 5 million respectively.The country's reserve tranche position in the IMF declined by $ 9 million to $1,428 million.

Loans and advances to the state government were up by Rs 1,108 crore (Rs 11.08 billion) to Rs 1,701 crore (Rs 17.01 billion) while that to the central government showed a nil balance.

During the fortnight ending April one, aggregate deposits went up by Rs 46,680 crore (2.7 per cent) to Rs 17,66,628 crore (Rs 17666. 28 billion).

Demand deposits rose by Rs 18,157 crore (Rs 181.57 billion) to Rs 2,81,974 crore (Rs 2819.74 billion) while time deposits were up by Rs 28,523 crore (Rs 285.23 billion) to Rs 14,84,654 crore (Rs 14846.54 billion).

Bank credit increased by Rs 49,610 crore (4.5 per cent) to Rs 11,41,710 crore (Rs 11417.10 billion).

The food credit fell by Rs 1,105 crore (Rs 11.05 billion) to Rs 40,016 crore (Rs 400.16 billion) while non-food credit rose by Rs 50,715 crore (Rs 507.15 billion) to Rs 11,01,685 crore (Rs 11016.85 billion), it added.

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