Indian Economy: Growth -2

[Naresh]

<!--QuoteBegin-Mudy+Feb 20 2005, 01:17 AM-->QUOTE(Mudy @ Feb 20 2005, 01:17 AM)<!--QuoteEBegin--> INDIAN FOREIGN EXCHANGE RESERVES AS ON 28-01-2005 : US DOLLARS 129.720 BILLION – AN INCREASE OF USD 291 MILLION - OVER THE PREVIOUS WEEK’S RESERVES

INDIAN FOREIGN EXCHANGE RESERVES AS ON 04-01-2005 : US DOLLARS 128.914 BILLION – A DECREASE OF USD 806 MILLION - OVER THE PREVIOUS WEEK’S RESERVES

INDIAN FOREIGN EXCHANGE RESERVES AS ON 11-02-2005 : US DOLLARS USD 129.980 BILLION – AN INCREASE OF USD 1.066 BILLION - OVER THE PREVIOUS WEEK’S RESERVES

Actually, it is not clear why such a fluctuation. Is dollar value or Oil payment??
28-01-2005 : US DOLLARS 129.720 BILLION
11-02-2005 : US DOLLARS USD 129.980 BILLION
+ 260 millions <!--QuoteEnd--><!--QuoteEEnd-->

Mudy.

As I see it the reasons for the "swing" in India's Forex Reserves is a combination of the US Dollar Rate vis-à-vis the Basket of Currencies as well as the costs of the Oil Imports.

However one of our “Economic Gurus” should be requested to give us a better picture.