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Forex reserves rise to $43.604 billion

After witnessing a decline in the previous week, India's foreign currency reserves have climbed up to $43.604 billion, a rise of $45 million, for the week ended July 20, 2001.

The foreign currency assets increased by $45 million to $40.802 billion in the reporting week, according to Reserve Bank of India's weekly statistical supplement released in Bombay.

The gold reserves and special drawing rights stood at $2.798 billion and $4 million respectively, remaining unchanged as compared to the previous week, RBI 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 increased by Rs 8.20 billion in the week ended July 20 to Rs 112.89 billion while that to the state governments fell by Rs 820 million to Rs 43.96 billion, the apex bank added.

The aggregate deposits in case of scheduled commercial banks rose to Rs 10158.62 billion, up by Rs 27.88 billion (0.3 per cent), for the fortnight ended July 13.

Bank credit in the reporting fortnight increased by Rs 43.90 billion (0.8 per cent) to Rs 5230.47 billion.

The food credit increased by Rs 4.38 billion to Rs 507.78 billion while the non-food credit rose by Rs 39.52 billion to Rs 4722.69 billion, RBI added.

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