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Forex reserves zoom up to $75.75 billion
April 19, 2003 13:01 IST
Continuing their upward march due to fresh inflows, India's foreign exchange reserves have further surged ahead by $711 million at $75.751 billion during the week ended April 11.
The foreign currency assets of the country grew by $711 million at $72.213 billion during the period under review, as per the Reserve Bank of India's weekly statistical supplement released on Saturday.
According to analysts, the rise is attributed to revaluation of non-US currencies, including the Euro, against the US dollar.
Gold reserves and special drawing rights at $3.534 billion and $4 million, respectively, remain unchanged, the apex bank said.
The loans and advances to Central government rose by Rs 67.28 billion at Rs 116.42 billion, while that to state governments increased by Rs 11.54 billion at Rs 36.82 billion.
Aggregate deposits of scheduled commercial banks for the fortnight ended April 4 stood at Rs 13,236.62 billion, up by Rs 430.86 billion (3.4 per cent).
Bank credit in the period under review swelled by Rs 245.10 billion at Rs 7,498.78 billion.
The food credit declined by Rs 48.88 billion at Rs 445.91 billion, while non-food credit increased by Rs 293.98 billion at Rs 7,052.87 billion, RBI said.
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