This constitutes more that 40 weeks’ imports, as against 38 weeks of imports in December 2007, notwithstanding the rise in the value of imports during this period. Still on this topic, tiny Mauritius became the 2nd country to participate in the Fund’s gold sales this year, coming hard on the heels of the South Asian Elephant, India.
4  163/2009  Second, the exchange rate. The rupee exchange rate index MERI1 and MERI2 which we rolled out last year, has declined steadily since May this year to close at around 98 in November 2009, compared to its base of 100 for Calendar Year 2007, thus indicating an appreciation of the rupee.