India's foreign exchange reserves continue to scale new heights and crossed the $80-billion mark following inflows of $1.591 billion during the week ended May 23.

Foreign exchange reserves rose by $1.591 billion to touch $80.816 billion in the reporting week, according to Reserve Bank of India's weekly statistical supplement released in Mumbai on Saturday.

Foreign currency assets rose by $1.596 billion to $77.426 billion, it added.

The rise is mainly due to fresh inflows and revaluation of non-US currencies, including the euro, against the US dollar, analysts said.

RBI said gold reserves remained static at $3.389 billion. The special drawing rights declined by $5 million to $1 million.

The loans and advances to Central government declined by Rs 3 crore (Rs 30 million) at Rs 8,854 crore (Rs 88.54 billion) while that to state governments grew by Rs 2,626 crore (Rs 26.26 billion) at Rs 4,032 crore (Rs 40.32 billion), RBI added.

Aggregate deposits during the fortnight ending May 16 declined by Rs 1,961 crore (0.1 per cent) to Rs 13,21,752 crore (Rs 13,217.52 billion) while bank credit too declined by Rs 119 crore (Rs 1.19 billion) to Rs 7,31,140 crore (Rs 7,311.40 billion).

Food credit during this period was down by Rs 645 crore (Rs 6.45 billion) at Rs 49,277 crore (Rs 492.77 billion) while non-food credit grew by Rs 526 crore (Rs 5.26 billion) at Rs 6,81,863 crore (Rs 6,818.63 billion), the apex bank added.