• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

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

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

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

Our Bureau

Mumbai , Sept. 22

Forex reserves increased by $404 million to touch $165.542 billion, for the week ended September 15 due to a rise in foreign currency assets.

In the previous week, reserves dropped $1.320 billion to touch $165.138 billion.

Foreign currency assets increased by $404 million to touch $158.239 billion during the week, according to the RBI's Weekly Statistical Supplement.

"There was a revaluation of currencies during the week under consideration," said Mr V. Rajagopal, Chief Dealer, Kotak Mahindra Bank. Non-US currencies strengthened against the dollar. The euro traded between $1.2679 and $1.2715. FII inflows into the domestic equity market also contributed to the forex kitty, he said.

The reserve position in the IMF and gold reserves remained unchanged at $764 million and $6.538 billion respectively.

There were FII inflows of around $310.30 million into the bourses during the week.

Dealers are expecting the home currency to trade strong on a firm equity market and weakening of the dollar against overseas currencies. This follows the decision of Fed Reserve to pause the interest rate hike cycle.

More Stories on : Forex

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

Stories in this Section
Penalty issue in repayment of loans by cash

Copyright © 2006, 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