Weekly Review
Bonds: Firmed up slightly last week as life insurers intervened in the markets which experienced nervous trading.

Forward Premia: Dropped to less than 2 per cent, for up to 12 months, last week.

Forex Reserves: For the last reporting week, forex reserves were $123.53 billion. The accretions came from revaluation of the reserves due to a depreciating dollar and rise in gold prices, and accretions from FIIs.

Besides with at least 20 per cent of the reserves in the form of other currencies, mainly the euro and pound sterling, the appreciation was substantial as the euro has advanced by at least 10 per cent against the dollar since April and now.
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AIBOC opposes merger of Public Sector Banks
Hyderabad: The All Indian Bank Officers Confederation (AIBOC) is opposed to mergers of public sector banks.

AIBOC has said that the confederation would not allow the proposed merger of public sector banks and it will go all out to campaign against the move.

The AIBOC has accused the Indian Banks' Association (IBA) of adopting dual standards and for being casual in wage negotiations and warned of strike if no reasonable settlement was reached.
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