RAMAKANTH
17-11-2007, 01:47 AM
he country's foreign exchange reserves rose by $3.66 billion for the week ended November 9 to $270.18 billion, indicating the central bank bought more dollars as it seeks to check the rapid rise of rupee.
Forex reserves had increased by $4.068 billion to stand at $266.518 billion for the week ended on November 2.
"The forex reserves with the central bank rose by $3663 million during the week ended on Novemebr 9," the Reserve Bank said in its weekly statistical supplement on Friday.
The rupee has risen more than 12 per cent against the US dollar in 2007 and RBI has been buying the greenback as part of efforts to stem the rapid rise that is hurting exports.
RBI said foreign currency assets for the week ended on November 9 rose $3.659 billion to $261.923 billion.
Foreign currency assets expressed in dollar terms included the effect of appreciation or depreciation of other currencies, such as Euro, Pound Sterling and Yen, held in its reserves.
During the week, gold reserves remained static at $7.811 billion and Special Drawing Rights (SDRs) at $13 million. The reserve position in the IMF went up by $4 million to stand at $434 million.
Forex reserves had increased by $4.068 billion to stand at $266.518 billion for the week ended on November 2.
"The forex reserves with the central bank rose by $3663 million during the week ended on Novemebr 9," the Reserve Bank said in its weekly statistical supplement on Friday.
The rupee has risen more than 12 per cent against the US dollar in 2007 and RBI has been buying the greenback as part of efforts to stem the rapid rise that is hurting exports.
RBI said foreign currency assets for the week ended on November 9 rose $3.659 billion to $261.923 billion.
Foreign currency assets expressed in dollar terms included the effect of appreciation or depreciation of other currencies, such as Euro, Pound Sterling and Yen, held in its reserves.
During the week, gold reserves remained static at $7.811 billion and Special Drawing Rights (SDRs) at $13 million. The reserve position in the IMF went up by $4 million to stand at $434 million.