The country?s foreign exchange reserves rose $3.6 billion to $254.1 billion for the week ended December 19.
Foreign-currency assets increased $3.58 billion to $245.3 billion, while the nation?s gold reserves remained unchanged at $7.86 billion, according the weekly statistical statement by the Reserve Bank of India (RBI).
India?s special drawing rights with the International Monetary Fund were unchanged at $3 million and its reserves with the IMF climbed by $16 million to $880 million.
The change in foreign-currency assets is partly because of changes in the value of the dollar against the euro, yen and other currencies during the period, the central bank said.
India?s foreign-exchange reserves decreased $18.7 billion in the past year, the bank said. The reserves comprise overseas currencies, gold and special drawing rights with the IMF. Money supply in India grew 20% in the two weeks ended December 5 from a year earlier, compared with 19% in the prior two weeks, central bank data showed.
M3, which mainly comprises currency in public circulation, bank deposits and money invested in other saving plans, stood at Rs 44,23,743 crore as on December 5, the apex bank said. Bank loans rose by Rs 9,409 crore in the two weeks ended December 5, raising outstanding advances to Rs 26,42,109 crore, according to central bank data.
Non-food credit increased by Rs 7,560 crore during the period, while food credit climbed Rs 1,849 crore, the Reserve Bank of India said.
