Forex reserves dip by $12 mn

Forex reserves dip by $12 mn
PRESS TRUST OF INDIA

MUMBAI, JAN 22: The foreign currency assets (FCA) declined by US $ 12 million taking the total to $ 32,158 million during the week ended January 14, 2000. The total foreign exchange reserves during the period stood at $ 35,101 million, including $ 2,939 million in gold and $ four million in SDRs, according to the Reserve Bank of India's weekly statistic supplement.

The Central Government further increased its dependence on ways and means advances (WMA) from RBI by Rs 3,415 crore to Rs 10,384 crore, during the week ended January 7. Aggregate deposits of scheduled commercial banks increased by Rs 10,248 crore, while credit to the commercial sector increased by Rs 9,233 crore, during the fortnight ended December 31, 1999. In the first nine months of 1999-'00, credit growth was Rs 32,844 crore.