May 31st, 2008
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: In-dia’s foreign exchange reserves rose to a record $316.171 billion, up $2.09 billion, for the week ended May 23, from $314.081 billion in the previous week.
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PHARMACEUTICALS Orchid net down on forex losses Orchid Chemicals and Pharmaceuticals has reported a 33 per cent decrease in net profit for the fourth quarter ended March 2008 due to exchange losses on outstanding FCCBs. The exchange loss on outstanding FCCBs was Rs 7.77 crore. At the board ...
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In a move that may take some sheen off derivative deals, the Reserve Bank of India (RBI) today proposed to increase the provisioning requirements for banks for off-balance sheet items such as forex and interest-rate derivatives and gold trading.
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