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Inverse correlation – Sachin’s highest test score and the BSE Sensex

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These two seem to be negatively correlated. As one goes up (read: Sachin’s highest test score – 12K-odd runs), the other goes down (8K-odd as on Black Friday – 24th Oct 2008).

What are the other alarming statistics of the Sensex?

Jan 2008 – scaling peaks of 20K

Oct 2008 – trying to negotiate the plains of 8K

Dow Jones – trying to negotiate the plains of 8K

State of the US economy: Close to a recession

State of the Indian economy – Expected GDP growth to slow to about 7%

Indian’s forex reserves: $250+ billion (RBI has been pumping in dollars to help maintain the rupee position)

China’s forex reserves: 1.5 trillion dollars.

This is what I could get from the RBI website (publicly available data – http://www.rbi.org.in/scripts/WSSViewDetail.aspx?TYPE=Section&PARAM1=2).

As per this data, it is clear we don’t hold much of our reserves in form of gold. The percentage is about 3% while foreign currency assets is about 97%. The US has a different story with a majority of their reserves held in gold.

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Written by Naveen Athresh

October 25, 2008 at 12:07 pm

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