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<a href="http://www.accessmylibrary.com/coms2/summary_0286-22284663_ITM" title="Facts and information about FOREX FLOOD: IT'S JITTERY COMPANIES, EXPORTERS BRINGING BACK $ (remittances by exporters comprised 22.2% of growth of $12.6 billion in forex reserves during Apr-Nov 2002).">FOREX FLOOD: IT'S JITTERY COMPANIES, EXPORTERS BRINGING BACK $ (remittances by exporters comprised 22.2% of growth of $12.6 billion in forex reserves during Apr-Nov 2002).</a>
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FOREX FLOOD: IT'S JITTERY COMPANIES, EXPORTERS BRINGING BACK $ (remittances by exporters comprised 22.2% of growth of $12.6 billion in forex reserves during Apr-Nov 2002).
(From India Business Insight)
Growth in foreign exchange (forex) reserves of India has been attributed to concerned exporters and corporate companies who are bringing back dollars because of the weakening dollar. The growth is therefore less credited to foreign investment and conversion of non-resident Indian (NRI) money held in Indian banks.
While remittances by exporters accounted for 22.2 ...
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