Forex assets up $79 million

MUMBAI, MARCH 3. India's foreign currency reserves are inching towards a record high with a further rise of $ 79 million to $41,773 million for the week ended February 23. This is entirely due to the rise in forex assets to $39,021 million, according to the latest weekly statistical supplement of the Reserve Bank of India.

During the last four weeks, the foreign currency reserves had swelled following continued institutional inflows and remittances from abroad by $1,225 million.

The reserves have risen from $34,734 million on November 11 last to the present level of $41,773 million.

Gold reserves and special drawing rights remained static at $2,751 million and $one million respectively in the reporting week.

Loans and advances to the Central Government declined by Rs. 316 crores to Rs. 417 crores for the week ended February 23, while those State Governments increased by Rs. 339 crores to Rs. 5,647 crores.

- PTI

Send this article to Friends by E-Mail

Section  : Business
Previous : Two wheeler majors cut  prices