Monday, January 21, 2008

Embarrassing forex inflows



Embarrassing forex inflows

The RBI is having problems in profitably deploying available forex resources



Rupee resources are ample with a healthy growth in bank deposits and noticeable increase in money supply.




India's external sector has got significantly strengthened thanks to heady foreign exchange inflows in recent years. The additions to foreign exchange assets were $46.82 billion in 2006-07, by itself a record. In the current financial year also, up to January 4, the growth under this head was unprecedented at $81.09 billion, taking the total to $274 billion.

Full text at

http://www.hindu.com/biz/2008/01/21/stories/2008012150061600.htm


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