16c. Turnover in Foreign Exchange Market

RbiAnnouncementWeb

Date: October 24, 1998

														(US$ Million)

	Merchant								Inter-bank
	FCY/INR				FCY/FCY				FCY/INR				FCY/FCY
	Spot	Forward	Forward	Spot		Forward	Forward	Spot		Swap	Forward	Spot		Swap	Forward
			Cancel-				Cancel-
Position Date			lation				lation

1	2	3	4	5		6	7	8		9	10	11		12	13

Purchases
Sept. 28, 1998	340	71	80	176		109	193	371		629	128	1,193		281	52
Sept. 29, 1998	179	66	96	234		86	221	317		480	125	1,063		226	50
Oct. 5, 1998	357	51	61	34		149	50	811		651	80	985		283	107
Oct. 6, 1998	295	65	29	102		94	109	564		741	73	1,081		154	86
Oct. 7, 1998	257	61	32	190		100	243	946		853	62	1,485		210	16
Oct. 8, 1998	224	49	49	103		170	170	437		662	143	998		277	261
Oct. 9, 1998	192	52	36	34		118	89	312		695	42	836		275	71

Sales
Sept. 28, 1998	401	112	34	177		56	226	353		663	100	1,311		364	51
Sept. 29, 1998	267	104	75	234		38	283	316		566	101	1,006		233	50
Oct. 5, 1998	303	177	76	25		108	125	753		590	87	1,043		235	100
Oct. 6, 1998	227	135	14	77		74	178	599		715	77	1,114		163	80
Oct. 7, 1998	355	54	10	172		67	274	714		811	73	1,372		230	17
Oct. 8, 1998	228	84	19	102		117	285	408		696	143	1,023		304	259
Oct. 9, 1998	217	61	9	34		90	143	304		703	48	843		269	72
FCY : Foreign Currency INR : Indian Rupees Note : Data relate to sales and purchases of foreign exchange on account of merchant and inter-bank transactions.