Forex level up

MUMBAI: India’s Foreign Currency Assets (FCA) increased by US $ 89 million to $ 30,613 million during the week ended May 28, 1999. The total foreign exchange reserves as on May 28 stood at $ 33,532 million, according to Reserve Bank of India’s weekly statistical supplement.

FCA has increased by $ 1,091 million since end-March 1999. Central government reduced access to ways and means advances (WMA) from RBI by Rs 3,759 crore during the week ended May 21, 1999 to Rs 3,525 crore. Time deposits with commercial banks increased by Rs 15,985 crore since end-March 1999 as on May 21.