Financial Daily from THE HINDU group of publications
Saturday, Feb 11, 2006
Financial Daily from THE HINDU group of publications Saturday, Feb 11, 2006 |
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Money & Banking
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Forex Forex reserves up Our Bureau
Mumbai , Feb 10 THE foreign exchange reserves of the country gained by $496 million for the week ended February 3 on the back of a rise in gold assets. According to the Reserve Bank of India's Weekly Statistical Supplement, foreign exchange reserves touched $139.977 billon, up from $139.481 billion in the previous week. The forex reserves had risen by $37 million in the previous week. The foreign currency assets increased by $94 million to touch $133.375 billion. The Foreign Institutional Investor inflows into the equity market during the week under consideration were $331 million. However, the primary reason for the rise in the reserves was due to an increase in the gold assets. Gold increased by $406 million to touch $5.6 billion. SDRs remained unchanged at $5 million. The reserve position in the IMF, however, fell by $4 million to touch $917 million.
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