Forex reserves fall by $270 mn to $162.692 mn

Mumbai, June 3: The forex reserves declined by USD 270 million to USD 162.692 billion as on May 26, 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 370 million to USD 155.509 billion.

The special drawing rights were unchanged at Rs two crore.

The reserve position in the IMF also stayed unchanged to USD 782 million.

The loans and advances of the State Government as on the week ended May 27 went up by Rs 528 crore to Rs 895 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 was Rs 14,87,631 crore.

Food credit was Rs 14,49,157 crore.

UNI