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Forex reserves rise by USD 811 mn to USD 141.240 bn

Written by: Staff

Mumbai, Feb 24 (UNI) Foreign exchange reserves (Forex) went up for the fifth week in a row by US dollar 811 million to USD 141.240 billion for the week ended on February 17, according to the weekly supplement released by the Reserve Bank of India (RBI).

The rise in the forex reserves could be attributed to the healthy foreign fund inflow in the booming equity markets and a stable rupee versus the US currency.

The reserves had gone up by US dollar 452 million to USD 140.429 billion for the week ended on Feb ten.

Foreign currency assets rose by USD 815 million to USD 134.806 billion, the RBI said.

Gold reserves were unchanged at USD 5.680 billion, while that of SDRs were unchanged at Rs 12 crore.

The reserve tranche position with the IMF decreased by USD four million to USD 751 million.

Loans and advances of the Central government remained nil for the week ended on February three. The loans and advances of the State governments were also nil during the week ended on February 17.

The aggregate deposits with the scheduled commercial banks were up by Rs 23,241 crore to Rs 19,72,089 crore for the fortnight ending on February three, the Central bank said.

The bank credits rose up by Rs 17,993 crore to Rs 13,82,501 crore during the same period.

The food credit was up by Rs 1,609 crore to Rs 39,952 crore and non-food credit was up by Rs 16,384 crore to Rs 13,42,549 crore.

Meanwhile, the rupee was stronger marginally by three paise at Rs 44.43/44 per USD, as compared to last week's close at 44.46/47 on the back of a weaker USD dollar in the international market and healthy foreign fund inflow.


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