According to data released by the Reserve Bank of India, foreign currency assets which includes the effect of appreciation or depreciation of non-US currencies such as Euro, Sterling, Yen held in the reserves dropped $1.31 billion to $253.09 billion.
Similarly, gold dropped $1.03 billion to $ 25.58 billion during the week. Special drawing rights -the reserve currency with the International Monetary Fund -dropped $34 million to $4.34 billion Reserve position in the International Monetary Fund also fell $ 22.3 million to $2.83 billion during the week.
I give all the money - The Sun
I’m 17. I work in a fast-food restaurant every evening, often getting home in the early hours of the morning. I am then expected to get up to take my little brothers to school and take my sister to nursery every day. I then pick them all up again at the end of each day.
I also look after my mum and do all the housework as she has been ill and can’t be left on her own. It’s exhausting. My mum charges me rent of £400 per month and keeps putting my rent up by £20 every six months. I never have any money for myself.
I can’t afford to go out at the weekends because I have to work to pay my mum otherwise I’ll be in debt to her. My parents deprive me of my things whenever I complain.
I need to move out but I can’t get any money together for a deposit because I give it all to my mum. I am starting to feel isolated and alone. None of my friends message me back when I try to talk to them on Facebook. I’m in a hopeless situation.
I am starting to think the best thing for me is suicide
Don’t even think about making a suicide attempt. You have a great life ahead of you even though things seem grim at the moment.
Please find someone in your family to confide in. They need to know what you’re up against at home and can work with local services and maybe find you somewhere else to live if need be.
Find a quiet time to talk to your mum about the rent you pay. Explain that you need a life of your own and to spend time with your friends. I am sending you my leaflet Family Finances so you can work out a fairer rent.
I’m also sending my leaflet Help for Carers as there may be a way of getting more support for your mum too so that so much doesn’t fall on you
Find understanding support through Get Connected who help under-25s with any problem – including housing (0808 808 4994, www.getconnected.org.uk).
FOREX-Euro falls vs dollar as Spain concerns mount - Reuters
* Euro retreats after Spanish rating downgrade
* Lacklustre Italian, German economic data adds to gloom
* Lack of policy action from Fed hits riskier currencies
By Nia Williams
LONDON, June 8 (Reuters) - The euro fell against the dollar and yen on Friday after a Spanish credit rating downgrade added to investor reluctance to take on risk and ratcheted up concern the European debt crisis was intensifying.
European Union and German sources told Reuters Spain was expected to make a request over the weekend for an aid package to prop up its troubled banks, highlighting the vulnerability of the country's financial sector.
Perceived riskier currencies were also under pressure after U.S. Federal Reserve Chairman Ben Bernanke offered no hints of imminent monetary stimulus in his testimony to Congress on Thursday, wrongfooting some market players who had positioned for a dovish statement.
The euro fell 0.75 percent to $1.2461, retreating from a two-week high of $1.2625 hit on Thursday after a surprise interest rate cut by the Chinese central bank.
Technical charts showed the euro was vulnerable to a test of the 23-month low of $1.2288 hit on June 1, after failing to break support-turned-resistance at $1.2626, the January low.
"With the negative news on Spain's rating cut it's back to reality for the market. The recovery we saw in the last few days was not a sustainable one," said Lutz Karpowitz, currency strategist at Commerzbank, who forecast the euro would be around $1.20 by the end of June.
Rating agency Fitch slashed Spain's credit rating by three notches on Thursday, signalling further downgrades could come as the country tries to restructure its troubled banking system.
The euro also took a knock after Italian industrial production fell far more than expected in April and German imports tumbled at their fastest rate in two years in April, adding to concerns of the euro zone slipping into recession.
FED HOLDS FIRE
Riskier currencies pared gains against the dollar made earlier in the week when investors sold safe-haven currencies on speculation central banks could signal further monetary easing to support growth.
Bernanke told Congress the Fed was closely monitoring "significant risks" to the U.S. recovery from Europe's debt crisis, disappointing those looking for him to lay out the groundwork for a third round of large-scale Fed bond buying.
The dollar index rose 0.9 percent to 82.771, recovering from a 10-day low of 81.911 hit on Thursday. The Australian dollar slipped 0.7 percent against the U.S. currency to US$0.9828.
Traders also cited talk that Chinese economic data due at the weekend could be weak and that Beijing's easing might have been aimed at pre-empting the grim news.
"Some people had high expectations of Bernanke, which he didn't match. The shock would have been much larger if it had not been for the Chinese rate cut," said Ayako Sera, market economist at Sumitomo Mitsui Trust Bank.
The euro fell 1.2 percent against the yen to 98.80 yen. The safe-haven Japanese currency gained broadly as market sentiment soured, with the dollar falling 0.5 percent to 79.22 yen.
Many analysts said the euro could come under further pressure next week as attention refocuses on political turmoil in Greece before an election on June 17. A victory for anti-bailout parties would raise the possibility of Greece leaving the currency union.
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