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This is an archive article published on May 30, 1999

Forex rises again

MUMBAI: Foreign currency assets FCA of the country increased by US 193 million to 30,524 million during the week ended May 21, 1999...

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MUMBAI: Foreign currency assets FCA of the country increased by US 193 million to 30,524 million during the week ended May 21, 1999.

The country8217;s total foreign exchange forex reserves stood at 33,443 million as against 33,250 million on May 14. During the week under review there was no change in gold reserves and special drawing rights SDRs, according to the weekly statistical supplement released today by the Reserve Bank of India RBI.

During the fortnight ended May 7, total credit extended by the scheduled commercial banks SCBs increased by Rs 758 crore, while investments by SCBs in government securities and other approved instruments grew by Rs 4,626 crore.

Food credit, during the same period, increased by Rs 1,864 crore while non-food credit declined by Rs 1,106 crore. Money supply M3, during the fortnight, increased by Rs 7,255 crore, an increase of 0.7 per cent, the RBI said.

 

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