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Forex reserves at $81.7 b

MUMBAI JUNE 14. India's foreign exchange reserves swelled by $343 million to $81.672 billion, a record high, during the week ended June 6.

Foreign currency assets rose by $59 million to $77.998 billion in the period under review, according to the Reserve Bank of India's statistical supplement.

The rise is mainly due to fresh inflows and revaluation of non-U.S. currencies, including the euro, against the U.S. dollar, analysts said.

The RBI said gold reserves recorded a rise of $284 million at $3.673 billion while special drawing rights remained static at $1 million.

Loans and advances to the Central Government dropped by Rs. 1,398 crores to Rs. 12,623 crores and that to States by Rs. 1,900 crores to Rs. 1,922 crores, the apex bank said.

Aggregate deposits during the fortnight ended May 30 increased by Rs. 6,830 crores to Rs. 13,28,582 crores while bank credit declined by Rs. 487 crores to Rs. 730,653 crores, the apex bank added. — PTI

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