Business Daily from THE HINDU group of publications
Saturday, Sep 20, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Saturday, Sep 20, 2008 ePaper | Mobile/PDA Version | Audio |
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Money & Banking
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Forex Forex reserves rise by $650 m Our Bureau Mumbai, Sept. 19 Forex reserves rose by a modest $650 million to touch $289.461 billion, for the week ended September 12, due to changes in the value of foreign currencies. In the earlier week, forex reserves had declined by a whopping $6.498 billion to touch $288.811 billion. According to the Reserve Bank of India’s Weekly Statistical Supplement, for the week under review, foreign currency assets increased by $676 million to touch $280.302 billion. Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as euro, sterling and yen held in reserves. The euro was weak against the dollar in the period under consideration. Gold reserves and SDRs were unchanged at $8.692 billion and $4 million respectively. The reserve position in the IMF fell by $26 million to touch $463 million in the week under review. More Stories on : Forex
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