Recession finally easing as forex reserves increase :)

Just came across news that indian forex reserves increased for the week which might be indication that foreign investors are betting on india again and thats the reason US $ reached 47.0 levels so thats a sigh of relief for the sectors which are hit by recession. so the forex reserves on october 2nd week aere at 280 billion US$.
The Fossil Fuel free economy

India's Forex reserves drop by about $560 million Wk o wk

India's foreign exchange reserves fell to $263.917 billion as on July 10, from $264.477 billion a week earlier. The main reason for decline was mainly because of Changes in foreign currency assets, expressed in dollar terms, include the effect of appreciation or depreciation of other currencies held in its reserves such as the euro, pound sterling and yen

Indian Forex reserves at USD 252 billion

(20/4/2009 Indian Economy updates) - India's foreign exchange reserves stood at USD 252 billion as of end-March, declining by USD 57.7 billion over the previous year, the Reserve Bank said on Monday.

The RBI said in its Macroeconomic and Monetary Developments in 2008-09 said, the overall approach to the management of India's foreign exchange reserves in recent years reflects the changing composition of the balance of payments and the 'liquidity risks' associated with different types of flows and other requirements.

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"Taking these factors into account, India's foreign exchange reserves continued to be at a level consistent with the rate of growth, the size of the external sector in the economy and the size of risk-adjusted capital flows," RBI said.

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