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India's Forex reserves up $ 266 M
NEW DELHI: India's foreign exchange reserve rose by $ 266 million during the week ending January 14, 2005, after a drop of over $ 2 billion a week earlier. The increase, mainly due to revaluation of international currencies, led the foreign exchange reserves grow to $ 1,29,378 million for the period under review. Last week, $ 2,066 million down drove the reserves largely by revaluation of international currencies. The foreign currency assets during the week also grew by $ 252 million to touch $ 1,23,374 million. Gold reserves and Special Drawing Rights remained static at $ 4,582 million and $ 5 million respectively. India's Reserve Tranche Position (RTP) with International Monetary Fund (IMF) grew by $ 14 million to reach $ 1,417 million. Loans and advances to state governments were down by Rs 189 crore to Rs 1,651 crore while that to central government showed a nil balance. During the fortnight ending January seven, aggregate deposits with the banks grew by Rs 33.158 crore (two per cent) to Rs 16,55.738 crore. Food credit during this fortnight rose by Rs 1,280 crore to Rs 45,059 crore while non-food credit by Rs 8,946 crore to Rs 9,92175 crore.