• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Port Info

• Ships in Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai , July 1

FOREIGN investment accounted for 41 per cent of the accretion to the country's forex reserves during the 2004-05 followed by external commercial borrowing, which represented 20.6 per cent.

According to the figures released by the RBI, foreign investments contributed $11.9 billion to the total foreign exchange reserves of $28.6 billion ($36.9 per cent last year).

Significantly, NRI deposits have shown a net outflow of $1.1 billion in the year as against $3.6 billion last year.

The other components to the forex reserves include external commercial borrowings, which increased to $5.9 billion accounting for 20.6 per cent and external assistance, which increased to $1.9 billion, accounting for 6.6 per cent of the total reserves.

Short-term credit at $3.8 billion accounted for 13.3 per cent of the reserves, and banking capital at $4 billion accounted for 14 per cent of the reserves.

Other items under capital account, which mainly reflect the difference between customs data on imports/exports and banking channel data, rupee debt service and other transactions, accounted for 17.8 per cent, at $5.1 billion, the release added.

Valuation gain, reflecting the appreciation of pound and euro against the dollar, accounted for an increase of $2.4 billion in the total reserves, as against a valuation gain of $5.4 billion last year.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Investments account for 41 pc of forex accretion

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line