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Forex reserves cross $82 billion
June 21, 2003 13:29 IST
After witnessing a dip in inflows in the previous week, the upswing for India's foreign exchange reserves continued as they touched a new record high by crossing $82 billion during the week ended June 13.
The country's foreign exchange reserves increased by $749 million at $82.421 billion in the period under review, according to the Reserve Bank of India's weekly statistical supplement issued in Mumbai on Saturday.
Foreign currency assets also rose by $749 million to $78.747 billion, it said.
Analysts said the rise is mainly due to fresh inflows and revaluation of non-US currencies, including the Euro, against the US dollar.
In the week ended June 6, the foreign exchange reserves had increased by only $343 million.
RBI said gold reserves and special drawing rights remained unchanged at $3.673 billion and $1 million, respectively.
The loans and advances to the central government fell by Rs 10,516 crore (Rs 105.16 billion) at Rs 2,107 crore (Rs 21.07 billion) while that to state governments increased by Rs 567 crore (Rs 5.67 billion) at Rs 2,489 crore (Rs 24.89 billion), the apex bank said.