Business Daily from THE HINDU group of publications
Tuesday, Jul 11, 2006
Business Daily from THE HINDU group of publications Tuesday, Jul 11, 2006 |
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Opinion
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Letters Forex reserves
A top official of the Reserve Bank of India has said that it would not disclose the currency-wise composition of forex reserves because of its market-sensitive nature and for fear that other central banks will bring pressure on it if they know where the money is. There are central banks that reveal this type of data, the latest example being the European Central Bank. India's forex reserves, though substantial from its point of view, are a pittance compared to the daily turnover running into trillions of dollars in international markets. Hence, the RBI's investment pattern is unlikely to influence them and may be of little concern to the developed countries. A. Seshan
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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