Business Daily from THE HINDU group of publications
Saturday, Sep 02, 2006
Business Daily from THE HINDU group of publications Saturday, Sep 02, 2006 |
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Money & Banking
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Forex Forex reserves down $ 41 m Our Bureau
Mumbai , Sept 1 The forex reserves have dipped by $41 million due to a drop in foreign currency assets. According to RBI's Weekly Statistical Supplement, reserves fell by $41 million to touch $165.326 billion for the week-ended August 25. In the previous week, reserves rose by $273 million to touch $165.367 billion. The euro traded between the $1.2766 to $1.2890. "There was a revaluation of currencies during the week under consideration. Global currencies had weakened against the dollar," said a chief dealer at a private bank. There was an FII inflow of around $25 million into equities the week under consideration. Gold reserves remained unchanged at $6.557 billion. The reserve position in the IMF increased by $1million to touch $768 million; but foreign currency assets decreased by $42 million to touch $158 billion. . Dealers said the RBI has not been intervening in the market for the last two to three months
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