Forex reserves touch $119.30 billion
By Our Banking Bureau | 18 Oct 2004
Mumbai: India's foreign exchange reserves rose by $20 million during the week ending October 11, 2004, compared to $515 million a week earlier.
Foreign currency exchange reserves for the week under review grew by $20 million to $1,19,304 million, the Reserve Bank of India said in its weekly statistical supplement released today.
Foreign currency assets were also up by $21 million to $1,13,809 million, the RBI said.
Special Drawing Rights and gold remained static at $4,192 million and $1 million respectively.
However, India's Reserve Tranche Position with the International Monetary Fund fell by $1 million to $1,302 million.
Loans and advances to central government had a nil balance while that to state governments were up by Rs2,763 crore to Rs3,631 crore.
During the fortnight ending October 1, aggregate deposits grew by Rs15,362 crore (one per cent) to Rs16,01,014 crore.
Demand deposits also grew by Rs9,359 crore to Rs2,26,487 crore while the time deposit base increased by Rs 6,003 crore to Rs13,74,528 crore.
Food credit surged by Rs449 crore to Rs38,638 crore while non-food credit went up by Rs16,206 crore to Rs8,97,267 crore.