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Forex reserves surge to record $67.753 billion

December 14, 2002 14:01 IST
Source:PTI
India's foreign exchange reserves gained a record $828 million to $67.753 billion during the week ending December 6, 2002.

The foreign currency assets also rose substantially by $803 million mainly due to export remittances, fresh inflows and revaluation of the euro vis-a-vis US dollar to $64.443 billion, according to the Reserve Bank of India weekly statistical supplement.

Foreign exchange reserves since April have grown by $2.368 billion.

While gold reserves increased by $25 million mainly due to revaluation to $3.303 billion, special drawing rights remained static at $7 million, the RBI said.

Loans and advances for the week ended December six to central government rose by Rs 2,057 crore (Rs 20.57 billion) to Rs 2,158 crore (Rs 21.58 billion) while that to state government increased by Rs 2,585 crore (Rs 25.85 billion) to Rs 6,742 crore (Rs 67.42 billion), the apex bank said.

Aggregate deposits for the fortnight ending November 29 rose by Rs 9,173 crore (Rs 91.73 billion)) to Rs 12,55,142 crore (Rs 12,551.42 billion) while bank credit rose by Rs 1,141 crore (Rs 11.41 billion) to Rs 6,82,390 crore (Rs 6,823.90).

Food credit rose marginally by Rs 142 crore (Rs 1.42 billion) to Rs 54,346 crore (Rs 543.46 billion) while non-food credit grew by Rs 999 crore (Rs 9.99 billion) to Rs 6,28,043 crore (Rs 6280.43 billion), the apex bank said.

Source: PTI
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