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Business Briefs

Forex kitty

Mumbai, Nov. 3: India’s foreign exchange reserves grew by $1.3 billion in the week ended October 26, which was a third of the inflows in the previous week. Foreign exchange reserves increased $1.30 billion to $262.45 billion in the week. The reserves had increased by $4.45 billion at $261.14 billion for the week ended October 19. The inflows last week were much lower compared with the inflows over the past one month. Foreign currency assets for the week stood at $254.62 billion, up by $1.30 billion.

IMF hint

Washington, Nov. 3: The International Monetary Fund (IMF) today advised India against putting any restrictions on capital inflows in the face of appreciating rupee. It said any such move might undermine confidence of foreign investors on the Indian economy.


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