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Reserves cross $68 b

MUMBAI DEC. 21. India's foreign exchange reserves surged ahead and crossed the $68 billion mark due to inflows of continuous export remittances and revaluation of euro vis-à-vis the dollar.

During the week ended December 13, inflows of $682 million led to foreign exchange reserves to touch a record high of $68.44 billion, the Reserve Bank of India weekly statistical supplement said.

The foreign currency assets also rose substantially by $682 million to $65.13 billion, according to the supplement.

The country's foreign exchange reserves have grown by $3,050 million since April. Gold reserves and special drawing rights remained static at $3,303 million and $ 7 million respectively. Loans and advances for the week ended December 13 to Central Government declined by Rs. 533 crores to Rs. 1,625 crores while that to state governments increased by Rs.2 crores to Rs. 6,744 crores, the apex bank added.

— PTI

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