• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• 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, Dec 28 The country’s forex reserves fell by $232 million to $272.722 billion for the week ended December 28, 2007 on revaluation of currency assets. The reserves had fallen by $599 million to $272.954 billion for the week ended December 14, said the Weekly Statistical Supplement from the Reserve Bank of India.

“The fall in reserves is on account of revaluation of currency assets particularly the euro and pound,” said Mr V. Rajagopal, Head-Treasury, Kotak Bank.

The foreign currency assets decreased by $230 million to $263.934 billion. Foreign currency assets, as expressed in dollars, include the effect of appreciation or depreciation in non-US currencies (euro, sterling and yen) held in reserves.

The country’s reserves in gold and SDRs remained unchanged at $8.357 billion and $3 million respectively. The reserves in IMF went down by $2 million at $428 million.

More Stories on : Forex

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

Stories in this Section
General insurance: Liberalisation has made little difference

Copyright © 2007, 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