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India foreign reserves falls to $300.010 bn |
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Foreign exchange reserves of India dipped to $ 300.010 billion for the week ended August 8 from $305.474 billion during the previous week, declined by by $5.464 billion
During the week, the foreign currency assets (FCA) fell by $5.456 billion to $289.760 billion compared to $295.216 billion in the previous week, Reserve Bank of India (RBI) said in its weekly report.
This is the fourth consecutive week that India registered fall in its foreign reserves.
The FCAs expressed in US dollar terms include the effect of appreciation/depreciation of non-US currencies such as Euro, Sterling and Yen held in reserves, it said.
The gold reserves and the special drawing rights, during the period under review, remained static at $9.735 billion and $11 million respectively, the central bank said.
India's reserve position in the International Monetary Fund (IMF) declined by $8 million to $504 million from $512 million in the previous week, RBI said.
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Gold price peaks to Rs16,900 in India bullion market |
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Gold prices in India continue to peak. On Satruday, gold prices spiked to a new high of Rs 16,900 per 10 gram in the bullion market. Gold dealers said strong marriage season demand amid firmimg global trends are driving gold prices in India. |
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Sri Lanka shoring up gold reserves |
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The Gold Price in Euros peaked on Feb. 20th above €782 an ounce. "We have been fairly strong accumulators of Gold reserves over the past few months," said Sri Lankan central bank chief Ajith Nivard Cabraal to Reuters today in an interview from Chenna |
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NMCE-Muthoot tie up for gold guinea, coins, bars |
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The National Multi-Commodity Exchange, India's third largest multi commodity exchange, has signed a deal with financial services company Muthoot Group to facilitate the futures trade in the guinea contract system. |
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Cardamom futures rose at the MCX counter Friday as the demand for the commodity in the spot market is seen firm against the lower than expected stockpiles. |
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MCX Comdex was up by 0.67% to 2687.20. MCX Energy was down by 0.98% to 2765.22, MCX Metal was up by 1.45% to 3130.30 and MCX Agri was up by 2.78% to 2182.39. |
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Domestic crude oil futures are trading with mild losses Friday as the impacts of the late sell of continued to linger on the market. |
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