Business Briefs 23-02-2014

Forex kitty Trade pacts

By The Telegraph Online
  • Published 23.02.14
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Forex kitty

Mumbai, Feb. 22: The country’s foreign exchange reserves surged $1.46 billion to $293.79 billion in the week ended February 14 on account of an increase in currency assets, the Reserve Bank has said. In the previous reporting week, the reserves had increased $1.26 billion to $292.33 billion. Foreign currency assets, a major part of the overall reserves, rose $1.41 billion to $267.25 billion in the week under review, the RBI said. During the week, the gold reserves were unchanged at $20.07 billion.

Trade pacts

New Delhi, Feb. 22: The government today said it was reviewing all its bilateral investment promotion and protection pacts amid global firms raising concerns about India’s investment policies. So far, India has implemented 83 bilateral investment promotion and protection agreements with various countries. Commerce minister Anand Sharma said they were debatable and had led to a number of international arbitrations.