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Forex reserves at record high of $60.64 bn

India's foreign exchange reserves touched a record high of $60.64 billion during the week ended August 16 due to continued revaluation of the US dollar vis-a-vis the euro and other international currencies.

In the reporting week, the forex reserves surged by $609 million to reach $60.64 billion.

The previous high was recorded at $60.15 million for the week ended August 2. However, the reserves had declined by $161 million for week ended August 9.

According to Reserve Bank of India's weekly supplement issued in Mumbai on Saturday, the foreign currency assets rose by $612 million to $57.38 billion.

Gold reserves remained static at $3.25 billion while special drawing rights declined by $3 million to $10 million, the apex bank stated.

In the week ended August 16, loans and advances to the Central government declined by Rs 7,311 crore (Rs 73.11 billion) to Rs 2,946 crore (Rs 29.46 billion) while that to the state governments were down by Rs 1,470 crore (Rs 14.70 billion) at Rs 2,991 crore (Rs 29.91 billion).

Aggregate deposits with the scheduled commercial banks for the fortnight ended August 9 increased by Rs 3,623 crore (Rs 36.23 billion) to Rs 12,10,619 crore (Rs 12,106.19 billion).

Food credit in the fortnight declined by Rs 224 crore (Rs 2.24 billion) to Rs 58,853 crore (Rs 588.53 billion) while non-food credit was up by Rs 186 crore (Rs 1.86 billion) to Rs 5,94,601 crore (Rs 5,946.01 billion).

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