The News Review:
- Forex reserves decline $1.8 bn to $305 bn on dollar sale
- Currency falls on central bank warning
- Murder accused nabbed in Blore
Forex reserves decline $1.8 bn to $305 bn on dollar sale
Economic Times – Mar 29, 2008
8 billion during the week ended
March 21, as the Reserve Bank of India (RBI) sold dollars during the week to
meet the dollar
demand. According to the latest
figures released by the central bank, total forex reserves in the country,
including gold and SDR, dipped $1,831 million to touch $304. The dip
in reserves is also partly on account of revaluation of non-dollar assets in the
reserves vis-a-vis the dollar.
Currency falls on central bank warning
Taipei Times – Mar 29, 2008
In comparison, the central bank has only allowed the local currency to appreciate by 6. 68 percent in the last two years as it must take into account the competitiveness of Taiwanese exporters. The central bank has been under exporters’ pressure as the recent NT dollar appreciation has raised concerns about the forex losses of local high-tech companies when these firms release their first-quarter financial reports beginning next week, the dealer said. Copyright © 1999-2008 The Taipei Times. All rights reserved.
Murder accused nabbed in Blore
deccanherald.com – Mar 29, 2008
The accused then allegedly stabbed his wife Indira on the evening of March 27 with a knife on the neck, murdered her and subsequently absconded. Forex recovered
A special team led by Dy Commissioner of police (East) B K Singh and officers of Frazer Town and Commercial Street police stations have arrested a man accused of foreign currency theft. Police said the accused G Nanjunda Reddy (34), was running a franchise branch of a city based Forex dealer, Trans Global Forex India Pvt Ltd, on Narayana Pillai Street in his home town Puttaparthi in Andhra Pradesh. The owner of trans global, Suresh Dasappa had lodged a complaint with the Commercial Street police that the franchise owner Reddy, borrowed 10,000 US dollars and 10,000 Euros, promising the former that he would hand over the equivalent amount in Indian currency within two days. However, he allegedly cheated the complainant, closed down his business at Puttaparthi before he went absconding. A special team traced the accused in Puttur and have seized Rs six lakhs and a laptop.