The Telegraph
Since 1st March, 1999
Email This Page
Business Briefs

Forex kitty swells

Mumbai, Nov. 8: With further inflow of $706 million during the week ending October 31, 2003, India’s foreign exchange reserves continued to swell to record highs crossing the $92 billion mark. The country's foreign exchange reserves surged ahead and during the week under review rose to $92,598 million from $91,892 million a week ago, according to the Reserve Bank of India’s weekly statistical supplement released here today. The reserves have gone up mainly due to depreciation of the dollar vis-a-vis other foreign currencies and fresh inflows. The RBI said the foreign currency assets also rose substantially by $706 million at $88,674 million.

Oil selloff

Indore, Nov. 8: The Centre has requested the Supreme Court to refer the divestment of public sector oil companies to a larger bench of the apex court, disinvestment minister Arun Shourie said today. Similar cases pending before different high courts should also be referred to the bench, he said.

ment has requested the Chief Justice for a review of the case and also similar other cases like Jessop and Hindustan Copper. Only after this the government will decide on the issue of taking the matter to Parliament, he said.

Email This Page