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India`s forex reserves rise by $491 mn
Mumbai, Sept 20: India`s foreign exchange reserves moved up further following fresh inflows of $491 million to $87,856 million during the week ended September 12, 2003.
Mumbai, Sept 20: India's foreign exchange reserves moved up further following fresh inflows of $491 million to $87,856 million during the week ended September 12, 2003.
The foreign currency assets also went up by $490 million to $84,132 million in view of the appreciation of non-US currencies like euro, sterling and yen held in reserves, according to Reserve Bank of India's weekly statistical supplement.
Gold reserves were static at $3,720 million while special drawing rights increased by $1 million to $4 million.
Loans and advances to the central government had a nil balance while that to states declined by Rs 1,112 crore at Rs 2,393 crore, the RBI said.
Aggregate deposits of scheduled commercial banks rose by Rs 12,092 crore (0.9 per cent) to Rs 13,74,373 crore during the fortnight ended September five.
Bank credit was up by Rs 5,660 crore (0.8 per cent) at Rs 7,32,904 crore, it said.
Bureau Report