The News Review:
- Japan, eurozone ministers seek G7 message on forex
- Forex reserves rise by USD 4,504 mn
- Sensex drops on inflation worries
Japan, eurozone ministers seek G7 message on forex
Times of Malta – Apr 5, 2008
Japanese and eurozone finance ministers called for G7 finance leaders meeting next week to seek a curb on excessive exchange-rate movements, amid growing concern over the economic effects of a sliding dollar. "It is important for the G7 members to confirm their shared understanding that excessive foreign exchange rate moves are undesirable for economic growth," Japanese Finance Minister Fukushiro Nukaga told reporters yesterday, when asked whether the dollar’s broad downtrend would be discussed at the G7 meeting. The dollar tumbled to an all-time low of 1. 59 per euro and to a 13-year low below 96 yen last month on fears the US economy, battered by an ailing housing market and a deeply wounded banking sector, would enter a recession. It has bounced back somewhat to around 1.
Forex reserves rise by USD 4,504 mn
Myiris.com – Apr 5, 2008
28, 2008, mainly due to the increase in foreign currency and assets collections, on a weekly basis. As per the weekly statistical supplement of the Reserve Bank of India (RBI) released on Apr. 04, 2008, foreign currency and assets moved up USD 4,498 million to USD 299,147 million. During the same period, the reserve position in the International Monetary Fund (IMF) increased by USD 5 million to USD 437 million.
Sensex drops on inflation worries
Hindu – Apr 5, 2008
dollar to close the day below the psychological sub-40 level. Forex dealers said banks sold dollars in the last thirty minutes of trade, helping the rupee gain and end the day at sub-40 level. At the interbank forex, the domestic unit resumed slightly higher at 40. The rupee moved in a range of 39… dollar to close the day below the psychological sub-40 level. Forex dealers said banks sold dollars in the last thirty minutes of trade, helping the rupee gain and end the day at sub-40 level. At the interbank forex, the domestic unit resumed slightly higher at 40. The rupee moved in a range of 39.