Financial Daily from THE HINDU group of publications
Sunday, Sep 11, 2005
Financial Daily from THE HINDU group of publications Sunday, Sep 11, 2005 |
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Money & Banking
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Forex Forex reserves gain $1.71 b Our Bureau
Chennai , Sept. 10 THE country's foreign exchange reserves showed a gain of $1.71 billion for the week ended September 2. According to the Reserve Bank of India's Weekly Statistical Supplement, the country's foreign exchange reserves increased to $145.55 billion. Reserves are up by about $5 billion over the past month. Foreign currency assets for the week ended September 2 rose by $1.56 billion to touch $139.55 billion. Foreign currency assets expressed in dollar terms include the effect of appreciation/depreciation of non-US currencies (such as euro, sterling, yen) held in reserves. Gold reserves were up by $140 million to touch $4.535 billion. According to data from the Securities and Exchange Board of India, the net foreign institutional investment in the equity market during August was $1.16 billion. FIIs pumped in close to $8 billion in the calendar year 2005.
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