Financial Daily from THE HINDU group of publications
Sunday, Apr 30, 2006
Financial Daily from THE HINDU group of publications Sunday, Apr 30, 2006 |
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Money & Banking
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Forex Forex reserves rise $2 b on RBI mop-up Our Bureau
Mumbai , April 29 The country's forex reserves have surged by about $2 billion due to the revaluation effect as well as dollar mop-up by the Reserve Bank of India. According to the RBI's Weekly Statistical Supplement, the reserves rose by $2.066 billion to touch $157.262 billion for the week-ended April 21. In the previous week, reserves had gained by $987 million to $155.196 billion. According to the RBI figures, foreign currency assets increased by $2.056 billion to touch $150.737 billion during the week. Foreign currency assets, expressed in dollar terms, include the effect of appreciation or depreciation of non-US currencies such as euro, sterling and yen. The total FII inflow into the equity market was $34.8 million against outflows of $475.9 million in the previous week.
Gold reserves
Gold reserves remained unchanged at $5.75 billion while SDRs gained by $3 million to $ 6 million. The reserve position in the IMF rose by $7 million to touch $764 million. The rupee could trade in the range of 45-45.20 in the next week.
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