IlluMyFi

NEW DELHI: Forex reserves declined sharply by $5.89 billion to $617.3 billion for the week ending January 5 after rising for four consecutive weeks, according to the weekly Reserve Bank data released on Friday. So far this fiscal, the reserves have surged $55.72 billion, as per the RBI. In the previous reporting week ended December 29, the reserves rose $2.759 bn to $623.2 bn, the highest so far this fiscal. In the week before that, the reserves increased $4.471 bn to $620.441. In October 2021, the forex kitty had reached an all-time high of $645 billion. The reserves took a hit as the central bank stepped in to defend the rupee amid pressures caused primarily by global developments since last year. In October 2021, the forex kitty had reached an all-time high of $645 billion. The reserves took a hit as the central bank stepped in to defend the rupee amid pressures caused primarily by global developments since last year. Foreign currency assets - the single-largest component of the reserves - declined $4.96 billion to $546.65 billion. Gold reserves also declined $839 million to $47.48 billion during the reporting week, while the Special Drawing Rights were down $67 million to $18.29 billion, the RBI said. Gold reserves also declined $839 million to $47.48 billion during the reporting week.BlurbThe reserves took a hit as the central bank stepped in to defend the rupee amid pressures caused primarily by global developments since last yearBlurbHCCB India CEO said this transfer "ensures the right level of investments can be undertaken in all parts of the business for scale, continuity"

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Bearish/Bullish

13.01.24 01:44

by dtnext.in

E-books can never replace paperbacks: Publishers

CHENNAI: In a world where information flows like a never-ending wave drowning consumers constantly in search of mere escapism, books serve as a mystic and magical world you can dive into. However, this begs the question - is it e-books you prefer or the good-old paperback? Talking to DT Next, Anu who is teacher and has been visiting Book Fair since 2005, said, "While paperbacks give a break from screen-time, e-books are easier for references and also more accessible. But as a book lover, nothing quite beats the pleasure of reading paperbacks." SK Murugan, secretary, BAPASI (Booksellers and Publisher's Association of South India), concurred and added: "A lot of customers here like the touch and feel of books in their hands. They feel a sense of accomplishment after reading a book, which comes only from paperbacks. That's one of the reasons we conduct this fair - to encourage people find joy in the act of reading." A manager of a leading publishing house pointed out that e-books cannot displace paperbacks and hardcovers. "The love for physical books will never diminish, irrespective of the growth of online platforms. Yes, there are pros and cons as a business, especially because e-books are sold at lesser price, while pricing for paperbacks includes rent for warehouse, cost of printing, shipping costs etc.," explained the manager. "However, though pricing and accessibility might make it seem like e-books are most preferred, hardcore book lovers will always prefer physical books."