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Forex reserves up $ 117 m

Our Bureau

MUMBAI, July 7

FOREX reserves of the country have risen by $ 177 million to $ 43.455 billion for the week ended June 29, 2001 as compared to $ 43.278 billion in the previous week, according to the Weekly Statistical Supplement (WSS) of RBI.

While foreign currency assets have registered an increase of $ 177 million to $ 40.635 billion for the week ended June 29, there has been no increase in either gold or the Special Drawing Rights (SDRs) which stood at Rs 2.816 billion and 4 million respec tively.

Bank credit has increased Rs 972 crore to Rs 5,16,665 crore and includes food credit, which increased by Rs 67 crore to Rs 48,798 crore while non-food credit increased by Rs 905 crore to Rs 4,67,867 crore.

Total accommodation provided by scheduled commercial banks to the commercial sector in the form of bank credit and investments in shares, debentures, bonds and commercial paper has declined by Rs 842 crore to Rs 5,44,892 crore on June 15 from Rs 5,45,734 crore on March 23.

Loans and advances provided by the Reserve Bank to the Central Government has increased by Rs 3,009 crore to Rs 9,014 crore on June 29 as against Rs 6,005 crore on June 22.

Year-on-year money supply stood at 17.9 per cent for the week ended June 15.