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Business Briefs

Forex kitty

Mumbai, Nov. 28: The country’s foreign exchange reserves fell $1.03 billion for the week ended November 20 to $285.34 billion. They stood at $286.37 billion in the previous week. The foreign currency assets during the week declined to $261.87 billion compared with $262.90 billion a week ago, the Reserve Bank of India said in its weekly report today. FCAs, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies such as Euro, Sterling, Yen held in reserves.

Steel prices

Mumbai, Nov. 28: Steel prices are likely to increase in the months ahead amid a rise in demand, a top industry official said. “Steel prices may pick up in the months ahead as China and India have already started showing real demand growth. The good news is that the infrastructure sector is picking up,” Tata Sons’ director Jamshed J. Irani said.


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