Financial Daily from THE HINDU group of publications
Sunday, Jul 24, 2005
Financial Daily from THE HINDU group of publications Sunday, Jul 24, 2005 |
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Money & Banking
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Forex Forex reserves rise by over $600 m Our Bureau
Mumbai , July 23 AFTER falling for three consecutive weeks, the country's forex reserves have recorded a modest rise of over $600 million for the week ended July 15. According to the Reserve Bank of India's Weekly Statistical Supplement, there has been an accretion of $662 million to the forex reserves, taking the total to $137.561 billion. Reserves at the end of the previous week stood at $136.899 billion. In the earlier three weeks ending July 8, 2005, forex reserves had fallen by a cumulative of $2.667 billion. For the week under review, the major component of the forex reserves was foreign currency assets, which rose by $650 million to touch $131.547 billion. Foreign currency assets expressed in dollar terms include the effect of appreciation/depreciation of non-US currencies (such as euro, sterling, yen) held in reserves.
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