Table 1: Sources of Variation in Foreign Exchange Reserves*

(US$ billion)

Items

April-June
2023

April-June
2024

I.

Current Account Balance

-9.0

-9.8

II.

Capital Account (net) (a to f)

33.4

15.0

a.

Foreign Investment (i+ii)

20.5

7.3

(i) Foreign Direct Investment (FDI)

4.7

6.3

(ii)Portfolio Investment

15.7

0.9

      of which:

Foreign Institutional Investment (FII)

16.1

0.9

           ADR/GDR

0

0

b.

Banking Capital

12.9

2.9

      of which: NRI Deposits

2.2

4.0

c.

Short-term Credit

-5.0

2.9

d.

External Assistance

1.4

1.4

e.

External Commercial Borrowings

5.7

1.7

f.

Other Items in Capital Account

-2.2

-1.1

III.

Valuation Change

-7.8

0.4

IV. 

Total (I+II+III) @
Increase in reserves (+) / Decrease in reserves (-)

16.6

5.6

*:        Based on the old format of BoP which may differ from the new format (BPM6) in the treatment of transfers under the current account and ADRs/ GDRs under portfolio investment.
@:      Difference, if any, is due to rounding off.
Note: ‘Other Items in Capital Account’ apart from ‘Errors and Omissions’ includes SDR allocation, leads and lags in exports, funds held abroad, advances received pending issue of shares under FDI, capital receipts not included elsewhere, and rupee denominated debt.

Table 2: Comparative Position of Variation in Reserves

(US$ billion)

Items

April-June 2023

April-June 2024

1

Change in Foreign Exchange Reserves
(Including Valuation Effects)

16.6

5.6

2

Valuation Effects
 [Gain (+)/Loss (-)]

-7.8

0.4

3

Change in Foreign Exchange Reserves on BoP basis
(i.e., Excluding Valuation Effects)

24.4

5.2

Note: Increase in reserves (+)/Decrease in reserves (-).
Difference, if any, is due to rounding off.