The Reserve Bank of India said in a report that nation's foreign exchange reserves stood at US$278.193 billion as on March 19, down from US$279.708 billion as on March 12.
At the same time, foreign currency assets reserves decreased to US$253.845 billion from US$255.321 billion last week, while gold reserves remained stable at US$17.920 billion.
Meanwhile, nation's reserve position with the International Monitory Fund amounted to US$1.389 billion, smaller than the 1.398 billion recorded in the preceding week.
At the same time, foreign currency assets reserves decreased to US$253.845 billion from US$255.321 billion last week, while gold reserves remained stable at US$17.920 billion.
Meanwhile, nation's reserve position with the International Monitory Fund amounted to US$1.389 billion, smaller than the 1.398 billion recorded in the preceding week.
University of Michigan sentiment index is 73.6 vs expected 73.0 and prelim 72.5.
Juncker says Greek aid package is not a precedent.
US 4Q headline GDP is 5.6% vs previously reported 5.9% – still overall in line with expectations.
All Euro member states agree to provide aid for Greece: Germany's Merkel.
OECD's Gurria: BIG TEST of Greek plan await in markets.
Sanjay Purohit, Cadbury’s Asia-Pacific head for chocolates, was also an executive director in the company board. He will join the $4.1-billion Levi Strauss & Co as MD of its Indian operations.
The euro rebounded from a 10-month low against the dollar and Asian stocks gained after European leaders agreed on an aid plan for Greece, easing concern the nation’s debt crisis will spread and derail the global recovery.
Europe’s single currency increased against 12 of its 16 major counterparts and the yen rose from an 11-week low against the dollar.
European Central Bank President Jean-Claude Trichet endorsed the plan, toning down his opposition to International Monetary Fund involvement as leaders sought to bury differences on the rescue package. Trichet told reporters in Brussels late yesterday that he was “extraordinarily happy that the governments of the euro area found out a workable solution”. Disagreement over Greek aid, coupled with a downgrade for Portugal’s credit rating this week, has fueled concern that rising budget deficits will undermine the global economy’s rebound from its worst postwar slump.
The euro advanced 0.5% to $1.3337 from $1.3273 in New York yesterday, gaining for the first time in four days. The currency fell earlier to $1.3268, the weakest level since May 7. Against the yen, the 16-nation euro gained 0.2% to 123.37.
The Japanese currency climbed to 92.51 versus the dollar from 92.73 yesterday, on speculation Japanese exporters took advantage of its largest weekly loss this year to buy the currency before the fiscal year ends next week. The yen fell to 92.96 yesterday, the lowest since Jan. 8.
Greece had a budget deficit of 12.7% of gross domestic product in 2009, the biggest in the euro-region and 3 times the level permitted under European rules.
Treasuries advanced in Asian trading as some investors said a surge in yields to the highest level in nine months makes government securities worth buying. U.S. debt is still headed for the biggest weekly loss this year as economic reports showed manufacturing is leading the recovery.
Orders for durable goods rose in February for a third month, the Commerce Department said on Mar 24. The economy expanded at a 5.9% annual rate in the final three months of 2009.
Confidence among U.S. consumers probably fell in March for a second month, indicating lingering concerns about the labor market will weigh on the recovery, economists said before other reports today.
The benchmark 10-year yield fell two basis points to 3.86% today. The yield has increased 17 basis points this week, the most since the period ended Dec. 25.
Copper for three-month delivery gained 0.2% to $7,448 a metric ton after rising as much as 0.5%. Crude oil rose 0.3% to $80.76 per barrel in New York after earlier dropping as much as 0.6%.
Europe’s single currency increased against 12 of its 16 major counterparts and the yen rose from an 11-week low against the dollar.
European Central Bank President Jean-Claude Trichet endorsed the plan, toning down his opposition to International Monetary Fund involvement as leaders sought to bury differences on the rescue package. Trichet told reporters in Brussels late yesterday that he was “extraordinarily happy that the governments of the euro area found out a workable solution”. Disagreement over Greek aid, coupled with a downgrade for Portugal’s credit rating this week, has fueled concern that rising budget deficits will undermine the global economy’s rebound from its worst postwar slump.
The euro advanced 0.5% to $1.3337 from $1.3273 in New York yesterday, gaining for the first time in four days. The currency fell earlier to $1.3268, the weakest level since May 7. Against the yen, the 16-nation euro gained 0.2% to 123.37.
The Japanese currency climbed to 92.51 versus the dollar from 92.73 yesterday, on speculation Japanese exporters took advantage of its largest weekly loss this year to buy the currency before the fiscal year ends next week. The yen fell to 92.96 yesterday, the lowest since Jan. 8.
Greece had a budget deficit of 12.7% of gross domestic product in 2009, the biggest in the euro-region and 3 times the level permitted under European rules.
Treasuries advanced in Asian trading as some investors said a surge in yields to the highest level in nine months makes government securities worth buying. U.S. debt is still headed for the biggest weekly loss this year as economic reports showed manufacturing is leading the recovery.
Orders for durable goods rose in February for a third month, the Commerce Department said on Mar 24. The economy expanded at a 5.9% annual rate in the final three months of 2009.
Confidence among U.S. consumers probably fell in March for a second month, indicating lingering concerns about the labor market will weigh on the recovery, economists said before other reports today.
The benchmark 10-year yield fell two basis points to 3.86% today. The yield has increased 17 basis points this week, the most since the period ended Dec. 25.
Copper for three-month delivery gained 0.2% to $7,448 a metric ton after rising as much as 0.5%. Crude oil rose 0.3% to $80.76 per barrel in New York after earlier dropping as much as 0.6%.
The soaring US dollar finally absorbed a round of profit-taking to open up on Friday. Oversold conditions in “risky” currencies relented, resulting in a modest rally in the Asia Session. Volume remained low throughout the week. On the economic data front, Japanese Consumer Price Index (CPI) results confirmed deflationary pressures.
After closing the New York session near 1.3285, EUR/USD jumped back above 1.3300 immediately and proceeded to steadily to the 1.3335 zone. Lackluster movement in USD/JPY allowed the firm EUR to lead a sharp lift in EUR/JPY. The cross launched off stellar support via its 200-hour moving average at 123.00 and topped the 123.50 level. Commodities held tight ranges, as exemplified by Gold. Gold inched higher from $1090/oz to $1095, while Silver added a dime to currently trade at $16.75/oz.
Germany has publicly opposed direct funding to Greece, while ECB President Trichet has attempted to extend an olive branch by inferring that the Euro Zone countries should work hand-in-hand. The only solid funding source thus far comes from the IMF, but the markets fell that the price that Greece will be forced to pay will be immense in terms of increased taxes, budget cuts, etc.
After closing the New York session near 1.3285, EUR/USD jumped back above 1.3300 immediately and proceeded to steadily to the 1.3335 zone. Lackluster movement in USD/JPY allowed the firm EUR to lead a sharp lift in EUR/JPY. The cross launched off stellar support via its 200-hour moving average at 123.00 and topped the 123.50 level. Commodities held tight ranges, as exemplified by Gold. Gold inched higher from $1090/oz to $1095, while Silver added a dime to currently trade at $16.75/oz.
Germany has publicly opposed direct funding to Greece, while ECB President Trichet has attempted to extend an olive branch by inferring that the Euro Zone countries should work hand-in-hand. The only solid funding source thus far comes from the IMF, but the markets fell that the price that Greece will be forced to pay will be immense in terms of increased taxes, budget cuts, etc.
Japan's output of rolled copper product rose to 68781 tonnes in Feb 2010, on a seasonally adjust basis, up 95.9% from a year earlier. The figure represents a 3.4% decrease from Jan 2010, the Japan Copper and Brass Association said.
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