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Forex reserves rise to a record $44.951 billion

India's foreign currency reserves further rose by $361 million to $44.951 billion for the week ended August 24, 2001.

Foreign currency assets increased by $361 million at $42.176 billion in the reporting week, according to Reserve Bank of India's weekly statistical supplement.

Gold reserves stood at $2.771 billion, the same level as in last week, while the special drawing rights remained unchanged at $4 million, 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 central government decreased by Rs 2.59 billion to a nil balance in the week ended August 24 while that to the state governments fell by Rs 5.85 billion to Rs 38.12 billion, the apex bank added.

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