Saturday, July 23 2005 16:30 Hrs (IST) - World Time -

Mumbai: After registering a decline for three consecutive weeks, India's foreign exchange reserves rose by $ 662 million for the week ended July 15, 2005.

The forex reserves stood at $1,37,561 million, a rise of $ 662 million, during the week under review, according to Reserve Bank of India's weekly statistical supplement released here today (July 23, 2005).

The foreign currency assets also rose by $ 650 million to $ 1,31,547 million for the reporting week.The rise in the inflows is mainly due to revaluation of global currencies, including the US dollar, analysts said.

Gold reserves and Special Drawing Rights (SDRs) remained static at $ 4,453 million and US Dollar four million respectively. The country's reserve tranche position increased by $ 12 million to $ 1,557 million, it said.

While loans to the state government decreased by Rs 3,462 crore to Rs 200 crore, loans to the central government showed nil balance, it added.

During the fortnight ended July eight, aggregate deposits rose by Rs 13,795 crore (O.8 per cent) to Rs 18,03,659 crore. The demand deposits were up by Rs 1,302 crore to Rs 2,61,414 crore while time deposits were also up by Rs 12,493 crore at Rs 1,42,245 crore.

Bank credit grew by Rs 11,834 crore (one per cent) to Rs 1,73,221 crore. The food credit increased by Rs 13 crore to Rs 44,817 crore while non food credit was up by Rs 11,821 crore to Rs 11,28,404 crore, it added.