Forex reserves rise

Mumbai, Dec. 2: India’s forex reserves went up by $2.42 billion to $172.78 billion during the week ended November 24 against $170.35 in the previous week. The reserves had increased by $2.071 billion during the preceding week ended November 17. The foreign currency assets also increased by $2.424 billion to $166.061 billion during the week ended November 24, according to figures released by the Reserve Bank. Foreign currency assets in dollars include the effect of revaluation of non-US currencies such as euro, sterling and yen held in reserves.

Essar move

Mumbai, Dec. 2: Essar Shipping’s board has approved delisting its shares from the Bombay Stock Exchange and the company will seek shareholders’ approval next month.

Ford rank

Detroit, Dec. 2: Ford Motor Co dropped from second to fourth in the US auto sales in November as they slid a steeper-than-expected 10 per cent, while Toyota Motor Corporation’s sales surged 16 per cent to put it in the second spot.