Financial Daily from THE HINDU group of publications
Sunday, Nov 02, 2003
Financial Daily from THE HINDU group of publications Sunday, Nov 02, 2003 |
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Money & Banking
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Forex RBI revaluation boosts forex reserves by $577 m Our Bureau
Mumbai , Nov. 1 ENHANCED yet again by a revaluation in the Reserve Bank of India's basket of international currencies, the country's forex reserves grew stronger by $577 million to touch $91.892 billion for the week ended October 24, 2003, compared to $91.315 billion in the previous week. As per the latest RBI statistics, foreign currency assets have also gone up by $577 million to touch $87.969 million. The foreign currency assets expressed in US dollar terms, include the effect of appreciation and depreciation of non-US currencies, such as Euro, Sterling, Yen etc., held in reserves, according to the weekly statistical supplement of the RBI. The gold reserves and SDRs were steady at $3.919 billion and $4 million, respectively. Meanwhile, the spot rupee ended at Rs 45.3225/3275 on Friday, after strengthening to a high of Rs 45.27/28 levels during the week. Dealers said that the rupee was trading steady in the absence of significant demand for the greenbacks.
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