Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Forex »
Open DEMAT Account in 24 hrs
 Perils of an ad hoc forex policy
 Rupee depreciated by 17 paise to Rs 45.62 a dollar in early trade
 Rupee strengthened by 7 paise against dollar
 Rupee up by 4 paise against dollar in early trade
 Rupee falls by 18 paise at 4-week low against dollar
 Rupee drops on weak shares; inflation eyed
 Rupee raises 6 paise against dollar in early trade
 Rupee among most traded in futures market
 Indian rupee gain 12 paise against US dollar
 Rupee marginally rise up by 1 paise against US dollar
 Rupee drops tracking euro, choppy shares

China forex reserves soar to $1.76 trillion
June, 03rd 2008

Chinas foreign exchange reserves rose to $1.76 trillion at the end of April, state media reported yesterday, reaching a level higher than the rest of Northeast Asias combined.

Chinas reserves, by far the largest in the world, expanded by another $74.5bn during April, the China Business News reported, equivalent to about $100m every hour. At $1.76 trillion, Chinas reserves are now larger than those of Japan, Taiwan, South Korea and Hong Kong combined.

It is possible that one day Chinas forex reserves might even top those of all other Asian countries combined, according to Brian Mak, a Hong Kong-based economist with Core Pacific Yamaichi. Much of the money represents investment inflows, and the economic conditions are much better in China than other Asian countries such as India, he said. It will continue to expand unless the government does something to curb the inflows, he said.

The growth in reserves came amid rising official concern about a fresh surge in hot money or speculative inflows spurred by a strengthening yuan and a widening spread between falling US interest rates and rising Chinese rates.

The increase in reserves was roughly three times larger than the trade surplus and the value of incoming foreign direct investment.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting