The country?s foreign exchange reserves for the week ended March 7, 2008 rose by Rs 26,767 crore over the previous week?s level at Rs 11,89,438 crore, according to the latest figures released on Friday by the Reserve Bank of India (RBI) said.
The country?s reserves with the International Monetary Fund, in the same period was up by Rs 44 crore to Rs 1,749 crore, the RBI said.
India?s foreign-exchange reserves rose by Rs 3,68,662 crore over the past year and by Rs 3,61,120 crore in the financial year that began April 1. Reserves comprise of overseas currencies, gold and special drawing rights with the International Monetary Fund.
At the same time, money supply growth in India slowed to 21.2 percent in the two weeks ended 29 February, 2008, from a year earlier, compared to 21.5 percent in the prior two weeks, central bank data showed.
Mainly comprises of currency in public circulation, bank deposits and money invested in other saving plans. It stood at Rs 38.7 lakh core as on 29 February, 2008, said the RBI.
Meanwhile, aggregate bank deposits outstanding as on February 29, was up Rs 43,539 crore or 1.4% to Rs 30,80,859, while bank credit, stood at Rs 22,51,213 crore or up Rs 41,481 crore. Food credit showed a rise of Rs 1,493 crore to Rs 44,311 crore, while non-food credit grew by Rs 39, 988 crore at Rs 22,06,902 crore, during the same period.