Amid continuously depreciating Indian currency 'Rupee' as international currency 'Dollar', India's foreign exchange reserve (forex) dropped by US $1.37-billion, official data reflects it.
India's forex reserve that was in an adequate amount earlier before beginning the devaluation of Rupee had sharply slipped in two consecutive weeks by US$ 2.18-billion to US $291.80-billion, recorded on week ended May 11.
Foreign currency assets, the biggest component of the forex reserves kitty, fell by $1.33 billion to $257.85 billion during the week under review, according to the Reserve Bank of India's weekly statistical supplement.
The RBI did not provide any reasons for the change in foreign currency assets.
It said the assets expressed in US dollar terms included the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve.
However, the RBI is understood to have sold dollars from the reserves to curb the slide in the value of rupee.
The Indian rupee slumped to a new intra-day low of 54.91 against a dollar Friday. This was the third consecutive record low of rupee in the last three days. The rupee had hit a low of 54.60 against a dollar Thursday, surpassing previous day's record of 54.52.
The rupee also hit a new closing low of 54.49 against a dollar Wednesday and ended the week at 54.42.
The value of special drawing rights (SDRs) declined by $25.6 million to $4.43 billion, and India's reserves with the International Monetary Fund (IMF) fell by $16.7 million to $2.88 billion.
The value of gold reserves remained unchanged at $26.61 billion.
--With IANS Inputs--
Saving money: May brings bargain chances - Dayton Daily News
What are the best buys right now? Yahoo! Finance reports some of the deals during the month of May are obvious ones, while others you may not have thought about.
Mattresses: This is the best time to buy a mattress because people are not buying indoor stuff this time of year. Look for deals all this month and possibly even into June.
Consumer Reports has said that one of the best places to buy a mattress is through a regional chain called Original Mattress Factory. But I’m also partial to the warehouse clubs. If you’re going the warehouse club route, I suggest you pull a mattress off the rack and lie on it for 10 minutes or more right there in the store to make sure you like what you’re buying.
Spring merchandise: This is an obvious one because the spring goods are moving from the discount rack to the deep discount rack. Remember that you can always use the calendar to help you save money any time of the year: The first day of any season is when retailers typically put the current season’s clothing on discount because they’re getting ready for the next season.
Gym memberships: Now that the weather is warming up, many people are more inclined to do outdoor activities — rather than indoor ones. So that puts the pressure on health clubs to discount their memberships. If you want to join up, never ever sign a contract.
You want to pay month-to-month or quarterly so you can bail out if necessary without paying a big fee.
Laptops: With Windows 8 coming out later this year, this is a great time to buy a laptop computer. I recently purchased a 15-inch laptop for $249. But I’m expecting you’ll be able to get full-featured laptops for $179 later this year. They may be refurbished, but if they work, who cares? Check DealNews.com for prices.
Why MetaTrader is the Best Trading Software - Phones Review
The foreign exchange market or Forex market is where the entire decentralized trading of international currencies takes place. Buyers and sellers across the globe work from financial centres’ where trading of these currencies goes on twenty-four hours a day, during the weekdays.
This trading sets the value of the various currencies every day. The fluctuations that take place in the value of the currencies aren’t only due to the actual monetary flows but also by projected changes in them too. It is a complicated market and only those people who have considerable knowledge and experience in this field should actually get into trading in the financial markets. But that’s not always necessary, especially when you use trading software like MetaTrader.
Knowing how and when to make a move is the key to everything, and it is vital to have a proper trade strategy as all experienced market analysts and traders do. For those who aren’t as knowledgeable of the financial markets but still would like to continue in the trading business, there is a great option available to them: they can buy trade strategies or Forex signals from people who are experienced in the trade market. These signals can be delivered to the buyer’s inbox or sent as a text, but even better can be installed on a trading platform. It is here that we come to the fantastic MetaTrader.
Unless you have a photographic memory and an unnatural aptitude for mathematics, if you are trading in the financial market, you will need a program that will allow you to easily analyze the market situation, develop a strategy and then execute the trading part. Every individual trading account may need to be accessible via mobile devices, and all investor accounts also need to be managed. There are a number of different trading software available in the market today that provide excellent help with the stock trade market but no more so than the visionary MetaTrader.
For everyone who is trading online, the MetaTrader system is the perfect partner to achieving the goal of making a profit in the business, or at the very least break even and not go down. Let’s start with one of the biggest advantages that MetaTrader has to offer. This is the fact that it allows automated trading to take place for as long as you want. It isn’t possible for any one person to stay awake and at the side of his computer or mobile device monitoring trends and making transactions. With MetaTrader you don’t have to because it monitors and analyses the market every second of the day and takes care of your trading automatically. You can program in and automate all your preferred and most successful strategies in this trading software as well and put in your customized indicators and experts that meet your needs where trading is concerned.
One problem that many traders face is that of the task of managing multiple accounts. MetaTrader provides you with a host of great and easy to use tools that make managing several trading accounts at once a cinch. You can then manage every account not only from one place but all at one time too. The cherry on top if everything else that MetaTrader has on offer is the fact that it has an extremely user friendly interface with simple controls and a number of powerful features that ensure an incredible yet flexible trading experience. MetaTrader also gives multi language and multi-currency support because its customers are from all around the globe. The value that MetaTrader as a trading platform gives is beyond outstanding and it is no wonder that millions of traders have made it their software of choice.
Author Bio:
Author Christopher is a professional blogger, writer and a husband. His dedication for writing comes from www.elitemoney.co.uk/ which has provided him a platform for nurturing his writing skills and bring about revolutionizing changes. He also takes keen interest in outdoor activities during vacations.
Phones Review Says: Get MetaTrader for your iOS devices via the App Store, or for Android devices via the Google Play store.
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