Forex reserves inch past $129bn

Forex reserves grew marginally by $51 million to $129.43 billion during the week ended January 21, 2005. Foreign Currency Assets grew by $59 million to $123.43 billion. This was stated in the RBI weekly supplement today.

Gold reserves and special drawing rights remained static at $4.582 billion and $5 million respectively. Reserve Tranche Position (RTP) with international monetary fund (IMF) declined by $8 million to reach $1.409 billion.

Loans and advances to state governments rose by Rs 1,562 crore to Rs 3,213 crore while that to central government showed a nil balance.