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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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KUALA LUMPUR, May 31 (Bernama) — The ringgit is expected to weaken against the U.S. dollar next week on renewed sentiments towards the greenback following encouraging news of recovery in the U.S economy, said dealers.

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India’s foreign-exchange reserves rose $2.09 billion to a record $316.2 billion in the week ended May 23, the central bank said.

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For today, in contracts.

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* Dollar headed to second straight monthly gain vs euro

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NTPC, the country’s largest power generator, recorded a 22.8 per cent decline in net profit to Rs 1,339.5 crore for the quarter ended March 2008 as it adjusted accounting for forex variations. Net sales during the period were up 21.25 per cent to Rs 10,743.6 crore.

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Momentum players are likely raking in the dough right now, with currency markets presenting exaggerated moves. Here you’ll find some of the most exciting events happening with Forex right now - something traders won’t want to miss.

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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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