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India makes dollars and loses rupees


The RBI weekly supplement for the week ended 26 Dec 08 shows that the forex reserves of the country is 254 billion dollars, up $3.6 billion from last week.

And in rupee terms, we are at 11.98 lakh cr. versus 12.20 lakh crore last week, a loss of 22,000 cr. The loss is probably due to the rupee’s gain of around 2%. But it’s an irony – you gain dollars, you lose rupees.

Also it seems like Government securities have had a huge inflow – over 200,000 cr. in the week ended 19th Dec. Has gone up considerably from the 100,000 cr. or so average of the last four weeks.


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