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Forex reserves up $464 mn to touch $109.13 bn
Mumbai, Mar 20: India`s foreign exchange reserves continued to rise with inflows of $464 million to reach record levels of $109.59 billion for the week ended March 12.
Mumbai, Mar 20: India`s foreign exchange reserves continued to rise with inflows of $464 million to reach record levels of $109.59 billion for the week ended March 12.
Following fresh inflows and revaluation of the US currency vis-a-vis other currencies, the foreign exchange reserves grew from $1,09,132 to $1,09,596 million, according to RBI`s weekly statistical bulletin released here on Saturday.
The foreign currency assets rose by $464 million to touch $1,05,404 million, it said.
RBI deputy governor K J Udeshi said on Friday that forex reseves had grown substantially but were not in plenty as yet.
The reporting week also saw the mega offer for sale of ONGC shares, which received 6.44 times bids over the issue size with a major participation coming from domestic and foreign institutional investors. Gold reserves and special drawing rights remained static at $4,190 million and $two million respectively.
India`s Reserve Tranche Position (RTP) with the International Monetary Fund declined by $one million to $1,296 million, the central bank said, adding the RTP might change from time to time due to India`s transactions with the IMF as well as changes in SDR exchange rates vis-a-vis rupee and the dollar.
The loans and advances to central government continued with a nil balance while that to state governments were down by Rs 2,109 crore at Rs 1,712 crore, RBI added.
RBI said aggregate deposits of scheduled commercial banks for the fortnight ended March five grew by Rs 12,377 crore (0.8 per cent) to Rs 14,82,130 crore.
Bank credit increased by Rs 8,163 crore to Rs 8,19,128 crore. Food credit was up by Rs 590 crore at Rs 35,858 crore while non-food credit increased by Rs 7,573 crore to Rs 7,83270 crore, the central bank added.
Bureau Report
The foreign currency assets rose by $464 million to touch $1,05,404 million, it said.
RBI deputy governor K J Udeshi said on Friday that forex reseves had grown substantially but were not in plenty as yet.
The reporting week also saw the mega offer for sale of ONGC shares, which received 6.44 times bids over the issue size with a major participation coming from domestic and foreign institutional investors. Gold reserves and special drawing rights remained static at $4,190 million and $two million respectively.
India`s Reserve Tranche Position (RTP) with the International Monetary Fund declined by $one million to $1,296 million, the central bank said, adding the RTP might change from time to time due to India`s transactions with the IMF as well as changes in SDR exchange rates vis-a-vis rupee and the dollar.
The loans and advances to central government continued with a nil balance while that to state governments were down by Rs 2,109 crore at Rs 1,712 crore, RBI added.
RBI said aggregate deposits of scheduled commercial banks for the fortnight ended March five grew by Rs 12,377 crore (0.8 per cent) to Rs 14,82,130 crore.
Bank credit increased by Rs 8,163 crore to Rs 8,19,128 crore. Food credit was up by Rs 590 crore at Rs 35,858 crore while non-food credit increased by Rs 7,573 crore to Rs 7,83270 crore, the central bank added.
Bureau Report