FOREX RESERVES TOUCH US $ 107.5 BILLION

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India's foreign exchange reserves grew further by $899 million to touch $107.5 billion for the week ended February 13.

The country's foreign exchange reserves rose by $899 million to $1,07,506 million in the period under review, according to Reserve Bank of India's weekly statistical supplement released here on Saturday.

The foreign currency assets also saw an increase of $900 million to touch $1,03,215 million, it said.

Forex market sources said the reserves have gone up due to fresh inflows and revaluation of the US dollar vis-a-vis other currencies.

RBI said gold reserves remained static at $4,289 million while the special drawing rights declined by $1 million to $2 million.

India's Reserve Tranche Position (RTP) with the International Monetary Fund (IMF) rose by $19 million to $1,336 million, the central bank said adding, the RTP may change from time to time due to India's transactions with the IMF as well as changes in SDR exchange rates vis-a-vis rupee and the dollar.

The loans and advances to central government continued with a nil balance while that to state governments were up by Rs 1,073 crore at Rs 4,918 crore, the RBI added.

Aggregate deposits of scheduled commercial banks as on February six grew by Rs 14,120 crore (one per cent) to Rs 14,53,805 crore, the RBI said.
Bank credit increased by Rs 10,829 crore at Rs 8,06,180 crore.

Food credit was down by Rs 218 crore at Rs 36,468 crore while non-food credit increased by Rs 11,047 crore to Rs 7,69,711 crore, the apex bank said.

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