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Foreign exchange reserves at $61.5 billion

Foreign exchange reserves swelled to $61.5 billion as they witnessed a jump of $480 million during the week ended August 30 largely due to revaluation of the dollar vis-a-vis Euro and fresh inflows.

In the previous week ended August 23, the country's foreign exchange reserves crossed the $61 billion mark.

According to Reserve Bank of India's weekly statistical supplement released in Mumbai on Saturday, the foreign currency assets saw a rise of $480 million at $58.3 billion.

Gold at $3.2 billion and special drawing rights at $10 million remained unchanged, it added. According to the supplement, loans and advances to the central government for the week ended August 30 declined by Rs 1,044 crore (Rs 10.44 billion) to a nil balance while that to state governments rose by Rs 1,055 crore (Rs 10.55 billion) at Rs 3,426 crore (Rs 34.26 billion).

Aggregate deposits of scheduled commercial banks recorded a growth of 8,263 crore (Rs 82.63 billion) for the fortnight ended August 23 at Rs 12,18,881 crore (Rs 12,188.81 billion), the apex bank said.

Bank food credit in the reporting period declined by Rs 2,453 crore (Rs 24.53 billion) at Rs 56,400 crore (Rs 564 billion) while the non-food credit increased by Rs 1,518 crore (Rs 15.18 billion) at Rs 5,96,119 crore (Rs 5961.19 billion), RBI added.

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