Finally breaks on decline of forex since last 9 months

The foreign exchange reserve of India finally rose up by 2 billion and reached to 248 billion at the end of this week. Finally breaks to continuous fall since last 9 months. This reverse trend may be due to revaluation of non dollar assets of the country. The news that can bring smile to the monetary policies managers is that the growth in money supply has been reduced to 185 in last 2 months. Reserve bank has also supposed to target cash low up to 17% for the financial year 2009. By the data of RBI, It is clear that total foreign exchange reserve rose up to $2 billion at the end of this week. The value of gold also fall down a lot. So this revaluation of non dollar assets has a great impact for this break and also the terrorist attack in Mumbai also shows its importance on the FOREX rates.