Financial Daily from THE HINDU group of publications
Saturday, Jan 21, 2006
Financial Daily from THE HINDU group of publications Saturday, Jan 21, 2006 |
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Money & Banking
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Forex Forex reserves up $158 million Our Bureau
Mumbai , Jan. 20 THE foreign exchange reserves increased by a modest $158 million for the week ended January 13, after a huge rise of $2.146 billion in the previous week. According to the Reserve Bank of India's Weekly Statistical Supplement, the foreign exchange reserves were at $139.510 billion against the previous week's $139.353 billion. For the week under consideration, foreign currency assets increased by $154 million to touch $133.308 billion. Foreign currency assets expressed in dollar terms include the effect of appreciation or depreciation of non-US currencies such as euro, sterling and yen. The week under review saw an outflow of FII funds from the domestic equity market to the tune of $137.2 million, according to figures from SEBI. According to the chief of treasury of a private bank, in the last 15 days RBI was buying dollars as the rupee had been gaining against the US currency. The euro traded between $1.2058 and $1.2149 against the dollar, also touching a high of $1.2163. Gold remained unchanged at $5.274 billion and SDRs were the same at $5 million.
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