The surge in India's foreign exchange reserves continued with a further rise of $611 million to cross $118 billion for the week ended April 30.

The country's foreign exchange reserves increased from $117.87 billion to $118.49 billion during the period under review, according to the Reserve Bank of India's weekly statistical supplement issued in Mumbai on Saturday.

Forex reserves during the first four months of 2004 have grown by over $16 billion.

Gold reserves, however, declined for the week ended April 30 by $7 million to $4.191 billion, while special drawing rights remained static at $2 million.

India's reserve tranche position with the International Monetary Fund increased by $1 million to $1.286 billion, the central bank added.

Loans and advances to the central government went up from a nil balance to Rs 245 crore (Rs 2.45 billion) while that to state governments rose by Rs 3,160 crore (Rs 31.60 billion) to Rs 5,818 crore (Rs 58.18 billion).