Forex reserves fall to $312.66 billion as of May 23: RBI
India's foreign exchange reserves fell to $312.66 billion as of May 23 compared with $314.93 billion in the week earlier, the Reserve Bank of India said on Friday.
Changes in foreign currency assets, expressed in dollar terms, include the effect of appreciation or depreciation of other currencies held in its reserves, the RBI said in its weekly statistical supplement.
Foreign exchange reserves include India's Reserve Tranche position in the International Monetary Fund ( IMF).
Yen rally slackens off, all eyes on ECB meeting
The yen levelled off on Friday but still looked set to rack up its best gains for months after a jumbled week of currency moves that has broadly seen the dollar strengthen and the euro and sterling fall.
The Australian dollar, this week's biggest gainer among the major currency pairs, also added to some hefty gains in the previous session but was bumping up against resistance around $0.9320.
Attention is now firmly focussed on next week's European Central Bank policy meeting, expected to deliver more policy easing. It comes at a time when the conviction of many that the Bank of Japan would do similarly this summer has been shaken, underpinning the rise for the yen to three-month highs against the euro.
Likewise, while the dollar has gained this week, U.S. Treasury yields have fallen and dealers said there was talk of some substantial fund option bets on the yen strengthening to as little as 98 per dollar over the next month.
"We still have a bias towards a weaker dollar. Against the yen in particular there is still the danger of some sort of a snapback, just to clear out some stale yen shorts," said Adam Cole, global head of FX strategy with RBC Capital Markets in London.
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India's foreign exchange reserves fell to $312.66 billion as of May 23 compared with $314.93 billion in the week earlier, the Reserve Bank of India said on Friday.
Changes in foreign currency assets, expressed in dollar terms, include the effect of appreciation or depreciation of other currencies held in its reserves, the RBI said in its weekly statistical supplement.
Foreign exchange reserves include India's Reserve Tranche position in the International Monetary Fund ( IMF).
Yen rally slackens off, all eyes on ECB meeting
The yen levelled off on Friday but still looked set to rack up its best gains for months after a jumbled week of currency moves that has broadly seen the dollar strengthen and the euro and sterling fall.
The Australian dollar, this week's biggest gainer among the major currency pairs, also added to some hefty gains in the previous session but was bumping up against resistance around $0.9320.
Attention is now firmly focussed on next week's European Central Bank policy meeting, expected to deliver more policy easing. It comes at a time when the conviction of many that the Bank of Japan would do similarly this summer has been shaken, underpinning the rise for the yen to three-month highs against the euro.
Likewise, while the dollar has gained this week, U.S. Treasury yields have fallen and dealers said there was talk of some substantial fund option bets on the yen strengthening to as little as 98 per dollar over the next month.
"We still have a bias towards a weaker dollar. Against the yen in particular there is still the danger of some sort of a snapback, just to clear out some stale yen shorts," said Adam Cole, global head of FX strategy with RBC Capital Markets in London.
Register yourself for free Comex Tips , Equity Tips , Free Nifty Tips, Nifty Option Tips, Stock Option Tips, Stock Options Tips, Nifty Options Tips ,Share Tips , Free Ncdex Tips , Free Mcx Tips , Free Commodity Tips,Domestic Forex Tips , Nifty Options Calls , Mcx Bullion Tips , Bank Nifty Tips, Mcx Gold Tips , Mcx Crude Tips , Comex Silver Trading Tips .
click here to get free trial http://www.researchvia.com/free-trials/ or reply your no. along with your trading segment.
