FE reserves scale to a new high 
of $7 billion

MUMBAI, May 24 (PTI)

India’s foreign exchange reserves (FE) continue to scale new heights and crossed the US$79 billion mark following inflows of US$666 million during the week ending May 17.

Foreign exchange reserves rose by US$666 million to touch US$79,225 million in the reporting week, according to the Reserve Bank of India’s weekly statistical supplement released here today.

Foreign currency assets rose from US$75,164 million to US$75,830 million, it said.

The rise is attributed mainly due to fresh inflows and revaluation of non-US currencies, including the Euro, against the US dollar, analysts said.
RBI said gold reserves remained rather static at US$3,389 million. 

Likewise, the special drawing rights remained unchanged at US$6 million.
The loans and advances to Central government grew by Rs 464 crore at Rs 8,857 crore.

However, that to state governments declined by Rs 2,506 crore at Rs 1,406 crore, the RBI added.