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Forex reserves swell by $141 million to $ 43,596 million

India's foreign currency reserves continued their upswing with a further increase of $141 million to $43,596 million for week ended July 6, 2001.

The foreign currency assets rose to $40,794 million, up by $159 million, in the reporting week, according to the Reserve Bank of India's weekly statistical supplement.

The gold reserves, however, declined by $18 million to $2,798 million. Special drawing rights remained static 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.

The aggregate deposits in case of scheduled commercial banks rose to Rs 10130.74 billion, up by Rs 100.98 billion (one per cent), for the fortnight ended June 29.

Bank credit in the reporting fortnight increased by Rs 19.92 billion (0.4 per cent) to Rs 5186.57 billion.

The food credit increased by Rs 15.42 billion to Rs 503.40 billion while the non-food credit rose by Rs 4.50 billion to Rs 4683.17 billion, RBI said.

Loans and advances by RBI to central government increased by Rs 82.53 billion in the week ended July 6 to Rs 172.67 billion while that to the state governments rose by Rs 12.21 billion to Rs 48.24 billion, the apex bank added.

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