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Forex reserves up by $235 mn
April 12, 2003 14:14 IST
India's foreign exchange reserves rose by $235 million at $75.040 billion during the week ended April 4.
The foreign currency assets of the country grew by $426 million at $71.502 billion during the period under review, according to Reserve Bank of India's weekly statistical supplement released in Mumbai on Saturday.
According to analysts, the rise is attributed to revaluation of non-US currencies, including the euro, against the dollar.
Gold reserves dipped by $191 million to $3.534 billion while special drawing rights remained static at $4 million respectively, it added.
The loans and advances to the central government stood at Rs 4,914 crore (Rs 49.14 billion) but that to state governments recorded a fall of Rs 2,931 crore (Rs 29.31 billion) at Rs 2,528 crore (Rs 25.28 billion), the apex bank said.
Aggregate deposits of scheduled commercial banks for the fortnight as on March 28 stood at Rs 13,04,347 crore (Rs 13, 043.47 billion).
Bank credit in the period under review was Rs 7,41,770 crore (Rs 7,417.7 billion). The food credit stood at Rs 49,398 crore (Rs 493.98 billion) while non-food credit was at Rs 6,92,373 crore (Rs 6,923.73 billion) in the fortnight, the RBI added.
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