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Our Bureau

Mumbai, Sept. 21

The country’s forex reserves went up by $1.810 billion to $232.187 billion for the week ended September 14, backed by good inflows and revaluation of currency assets.

“The accretion to reserves is by and large because of good inflows and revaluation of currency assets,” said Mr P. Mukherjee, Treasury, Axis Bank.

The reserves had gone up by $1.530 billion to $230.377 billion for the week ended September 7, said a Weekly Statistical Supplement from the Reserve Bank of India.

The foreign currency assets rose by $1.808 billion to $224.870 billion. Foreign currency assets, as expressed in dollars, include the effect of appreciation or depreciation in non-US currencies (euro, sterling and yen) held in reserves.

The gold and SDRs deposits remained unchanged at $6.881 billion and $2 million, respectively. The country’s reserve position in IMF went up by $2 million to $434 million.

The gross bank credit went up by Rs 22,027 crore to Rs 19,60,072 crore for the fortnight ended August 31 said RBI figures.

Of this, the food credit was up by Rs 131 crore to Rs 38,490 crore and the non-food credit increased by Rs 21,896 crore to Rs 19,21,582 crore.

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