Forex reserves fall by USD 793 mn to USD 162.962 mn

Mumbai, May 27: The forex reserves declined by USD 793 million to USD 162.962 billion as on May 19 as per the weekly statistical supplement released by the Reserve Bank of India (RBI).

The sharp correction in the equity markets were largely behind the decline in the forex reserves, as the foreign institutional investors (FIIs) were net sellers.

The foreign currency assets, too, went down by USD 787 million to USD 155.879 billion.

The special drawing rights were unchanged at Rs two crore.

The reserve position in the IMF went down by USD 6 million to USD USD 782 million.

The loans and advances of the central government went up by Rs 5,614 crore during the week ended on May 19, where as those of the State government went up by Rs 340 crore to Rs 367 crore.

Aggregate deposits of the scheduled commercial banks as on May 12 declined by Rs 13,188 crore to Rs 21, 23,757 crore.

Bank credit went up by Rs 460 crore to Rs 14,87,631 crore.

Food credit declined by Rs 756 crore to Rs 14,49,157 crore.

UNI