BUSINESS

Forex reserves cross $86b

MUMBAI: India's foreign exchange reserves rose by $692 million to $86.255 billion during the week ended August 29. Foreign currency assets increased by $692 million to $82.624 billion in the period under review, according to the Reserve Bank of India's weekly statistical supplement released here today.

Gold reserves remained unchanged at $3.628 billion and special drawing rights also remained unchanged at $3 million, it said.

In the week ended August 30, loans and advances to the State governments were down by Rs. 1,305 crores at Rs. 3,974 crores while that to the Centre showed a nil balance, the RBI added.

Aggregate deposits during the fortnight ended August 22 rose by Rs. 6,035 crores to Rs. 13,62,281 crores, it said.

Food credit during this period declined by Rs. 1,969 crores to Rs. 41,283 crores while non-food credit increased by Rs. 538 crores to Rs. 685,962 crores, the RBI said. — PTI

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