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Economy

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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