Business Daily from THE HINDU group of publications
Thursday, Oct 01, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Thursday, Oct 01, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
|
|
|
|
|
Money & Banking
-
Forex Forex reserves increase on valuation gains Our Bureau Mumbai, Sept. 30 The rise in the country’s foreign exchange reserves in the June-ended quarter was mainly on account of valuation gains, rather than on account of balance of payments. The country’s foreign exchange reserves had risen by $13.157 billion in the first quarter of this fiscal. The reserves had risen by $2.364 billion in the corresponding quarter last year. According to the sources of variation in foreign exchange reserves released by the Reserve Bank of India, of the total increase in foreign exchange reserves in the June ended quarter, around 99.1 per cent was on account of revaluation. The remaining 0.9 per cent was on account of a change in foreign exchange reserves on BOP basis. Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies. The valuation gain of $13.042 billion was on account of the depreciation of the US dollar against other major currencies. Inflows under FDI, portfolio investments and NRI deposits were the major sources contributing to the increase in foreign exchange reserves, the report said. More Stories on : Forex
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2009, 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
|