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Home -> Finance -> Full Story
India's foreign exchange reserves cross $ 62 bn mark
Saturday, September 14 2002 14:33 Hrs (IST)

Mumbai: India's foreign currency reserves continued to surge ahead to record levels with fresh inflows and crossed the $ 62 billion mark during the week ending September 6.

The foreign currency reserves witnessed a further jump of $ 551 million at $ 62,066 million during this period largely due to fresh inflows and revaluation of the Dollar vis-a-vis the Euro.

According to Reserve Bank of India's weekly statistical supplement released on September 14, foreign currency assets saw a rise of $ 591 million at $ 58,848 million.

Gold at $ 3,208 million declined by $ 40 million while special drawing rights remained unchanged at $ 10 million, it added.

Loans and advances to the Central government for the week ended September 6 were up by Rs 9,666 crore to have the same balance while that to state governments it was up by Rs 727 crore to Rs 4,153 crore.

Aggregate deposits of scheduled commercial banks recorded as on August 30 showed a growth of Rs 2,116 crore (0.2 per cent) to Rs 12,09,112 crore, the bulletin said.

Bank food credit for the month of August declined by Rs 2,800 crore to Rs 56,277 crore while non-food rose by Rs 5,519 crore to Rs 5,99,934 crore, RBI added.

PTI



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