Financial Daily from THE HINDU group of publications
Sunday, Oct 06, 2002

News
Features
Stocks
Port Info
Archives

Group Sites

Home Page - Forex
Money & Banking - Forex


Forex reserves up $200 m

Our Bureau

MUMBAI, Oct. 5

THE country's forex reserves have risen by $200 million to touch $62.721 billion for the week ended September 27, 2002 as compared to $62.521 billion in the previous week, according to the latest figures released by the Reserve Bank of India.

Reserves have risen on account of consistent dollar inflows over the past few weeks in the form of FDI and other investments, according to forex dealers. "Sentiment is good in the markets. Lot of inward remittances are also coming in consistently,'' said a dealer with a private sector bank.

Meanwhile, the Indian currency ended the week strong at 48.3550/3625 in a supply driven forex market. The rupee has been trading steady and has been range bound on account of substantial dollar inflows and lacklustre demand for the greenback.

According to the Weekly Statistical Supplement (WSS) of the RBI, foreign currency reserves also rose by $200 million to touch $59.503 billion for the week ended. Gold reserves remained at $3,208 billion, while special drawing rights remained at $10 million.

Send this article to Friends by E-Mail
Comment on this article to BLFeedback@thehindu.co.in

Stories in this Section
Barriers to growth have to go: PM


Forex reserves up $200 m
US port shutdown may spell trouble for exporters
Fernandes keeps the sell-off pot boiling
Call centres lift the age bar a little


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |

Copyright 2002, 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