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Forex reserves at a record $43.278 billion

India's foreign currency reserves continued their upswing with a further increase of $118 million to $43.278 billion for week ended June 22, 2001.

The foreign currency assets rose to $40.458 billion, up by $118 million, in reporting week, according to Reserve Bank of India's weekly statistical supplement.

The gold reserves and special drawing rights were at $2.816 billion and $4 million, respectively, the same as in the previous week, the apex bank said.

The foreign currency assets expressed in US dollar terms include the effect of appreciation/depreciation of non-US currencies such as euro, sterling and yen.

Loans and advances by RBI to the central government declined by Rs 58.66 billion in the week ended June 22 to Rs 60.05 billion, while that to the state governments rose by Rs 30 million to Rs 32.59 billion, RBI said.

The aggregate deposits in case of scheduled commercial banks fell by Rs 560 million to Rs 10,029.76 billion for fortnight ended June 15.

Bank credit in the reporting fortnight stood at Rs 5,166.65 billion, down by Rs 9.72 billion (0.2 per cent).

The food credit increased by Rs 670 million to Rs 487.98 billion, while the non-food credit rose by Rs 9.05 billion to Rs 4,678.67 billion, RBI added.

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