Financial Daily from THE HINDU group of publications
Sunday, Feb 23, 2003
Financial Daily from THE HINDU group of publications Sunday, Feb 23, 2003 |
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Money & Banking
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Forex Forex reserves rise $616 m Our Bureau
MUMBAI, Feb. 22 THE country's foreign exchange reserves continued to rise to cross the $ 75-billion mark. For the week ended February 14, forex reserves rose by $ 616 million to touch $ 75.283 billion. However, the increase was relatively lower than during the week ended February 7 when reserves rose by $ 1.084 billion to touch $ 74.667 billion. According to Reserve Bank of India's weekly statistical supplement, foreign currency assets rose by $ 614 million to $ 71.586 billion. RBI said foreign currency assets expressed in dollar terms include the effects of appreciation/depreciation of non-US currencies like the euro, sterling, yen and others held in reserves. Gold reserves remained unchanged at $ 3688 million while special drawing rights rose by $ 2 million to $ 9 million. Loans to State governments fell by Rs 243 crore at Rs 5322 crore week-on-week. Aggregate deposits of scheduled commercial banks during the fortnight ended February 7 rose by Rs 8,876 crore to Rs 12,72,844 crore while bank credit was up by Rs 7,307 crore to Rs 7,03,859 crore. Food credit increased by Rs 648 crore to Rs 50,432 crore while non-credit rose by Rs 6,659 crore to Rs 6,53,427 crore.
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