Forex reserves swell by $627 million

Foreign exchange reserves rose by $627 mn to $255.2 bn on account of appreciation of gold in reserves. While foreign currency assets rose $5 mn, the value of gold in reserves rose $624 mn.

According to the figures released by the Reserve Bank of India (RBI) in its weekly statistical supplement (WSS), total bank credit rose Rs 1,572 crore in December to Rs 26,45,415 crore. Deposits on the other hand grew by Rs 21,412 crore to touch Rs 35,69,352 crore as on December 26.