The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period September 11 – September 15, 2023.

All Figures are in USD Millions

Position DateMERCHANTINTER BANK

FCY / INRFCY / FCYFCY / INRFCY / FCY

SpotForwardForward
CancelSpotForwardForward
CancelSpotSwapForwardSpotSwapForward

Purchases

11-09-20233,55499369823621025015,55313,6001,6126,8141,773214

12-09-20234,3656504533086678512,80911,6741,6545,5192,017179

13-09-20234,2571,01571435339716114,43511,3721,8566,3401,852220

14-09-20234,36777575930239313712,35512,2469586,2401,787285

15-09-20237,3541,49759729142324417,42513,2907168,2142,147339

Sales

11-09-20234,0921,79565424823125015,36215,7717726,7791,750214

12-09-20233,4211,7563133146538412,14116,0951,8105,5222,035180

13-09-20234,2002,46655636240616414,33512,2658526,3401,873221

14-09-20234,4921,88532830938213711,94212,0056566,2491,821285

15-09-20234,9572,83198529242124517,39812,3381,0368,2322,077340

(Provisional Data)

Ajit Prasad           
Director (Communications)

Press Release: 2023-2024/1060

Auction Results7.06% GS 20287.18% GS 20337.30% GS 2053 I.Notified Amount₹7000 Crore₹13000 Crore₹10000 Crore II.Underwriting Notified Amount₹7000 Crore₹13000 Crore₹10000 Crore III.Competitive Bids Received (i) Number112187187 (ii) Amount₹15430 Crore₹28368.375 Crore₹23353.760 Crore IV.Cut-off price / Yield98.7698.8096.78 (YTM: 7.3886%)(YTM: 7.3514%)(YTM: 7.5726%) V.Competitive Bids Accepted (i) Number3883107 (ii) Amount₹6989.317 Crore₹12964.062 Crore₹9980.364 Crore

VI.Partial Allotment Percentage of Competitive Bids78.58%67.10%64.81%

(2 Bids)(11 Bids)(2 Bids)

VII.Weighted Average Price/Yield98.7698.8097.02

(WAY: 7.3886%)(WAY: 7.3514%)(WAY: 7.5517%)

VIII.Non-Competitive Bids Received   

(i) Number453

(ii) Amount₹10.683 Crore₹35.938 Crore₹19.636 Crore

IX.Non-Competitive Bids Accepted   

(i) Number453

(ii) Amount₹10.683 Crore₹35.938 Crore₹19.636 Crore

(iii) Partial Allotment Percentage---

X.Amount of Underwriting accepted from primary dealers₹7000 Crore₹13000 Crore₹10000 Crore

XI.Devolvement on Primary DealersNILNILNIL

Ajit Prasad            
Director (Communications)

Press Release: 2023-2024/1057

7.06% GS 20287.18% GS 20337.30% GS 2053 I.Notified Amount₹7,000 crore₹13,000 crore₹10,000 crore II.Cut off Price / Implicit Yield at cutoff 98.76/7.3886%98.80/7.3514%96.78/7.5726% III.Amount accepted in the auction₹7,000 crore₹13,000 crore₹10,000 crore IV.Devolvement on Primary DealersNILNILNIL Ajit Prasad Director (Communications)

Press Release: 2023-2024/1056

The Reserve Bank of India has launched the 63rd round of its Order Books, Inventories and Capacity Utilisation Survey (OBICUS). The survey is for the reference period July - September 2023 (Q2:2023-24).

The Reserve Bank has been conducting the Order Books, Inventories and Capacity Utilisation Survey (OBICUS) of the manufacturing sector on a quarterly basis since 2008. The information collected in the survey includes quantitative data on new orders received during the reference quarter, backlog of orders at the beginning of the quarter, pending orders at the end of the quarter, total inventories with a breakup between finished goods (FG), work-in-progress (WiP) and raw material (RM) inventories at the end of the quarter, item-wise production in terms of quantity and value during the quarter vis-à-vis the installed capacity from the targeted group and the reasons for changes in production / installed capacity during the quarter. The level of capacity utilisation (CU) is estimated from these responses. The survey provides valuable input for monetary policy formulation. The survey findings are released on the website of the Bank regularly.

During this quarter, selected manufacturing companies will be approached by the Bank. Other manufacturing companies may also participate in the survey by downloading the survey questionnaire from the Reserve Bank’s website https://www.rbi.org.in. The survey questionnaire is placed under the head ‘Forms’ (available under the ‘More Links’ at the bottom of the home page) and sub-head ‘Survey’. The duly authenticated filled-in survey schedule may be e-mailed as per contact details provided in the survey schedule.

Company level data are treated as confidential and never disclosed.

In case of any query/clarification, kindly contact us at the following address:

The Director,
Division of Enterprise Surveys,
Department of Statistics and Information Management,
Reserve Bank of India,
C-8, 2nd floor, Bandra-Kurla Complex, Bandra (East),
Mumbai - 400051,
Phone - 022-26578235/279;
Please click here to send email.

Ajit Prasad           
Director (Communications)

Press Release: 2023-2024/1055

Tenor14-day Notified Amount (in ₹ crore) 50,000 Total amount of offers received (in ₹ crore)6,668 Amount accepted (in ₹ crore)6,668 Cut off Rate (%)6.49 Weighted Average Rate (%)6.49 Partial Acceptance Percentage of offers received at cut off rateNA Ajit Prasad           
Director (Communications)

Press Release: 2023-2024/1061

In the underwriting auctions conducted on October 06, 2023 for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below:

(₹ crore)

Nomenclature of the SecurityNotified AmountMinimum Underwriting Commitment (MUC) AmountAdditional Competitive Underwriting Amount AcceptedTotal Amount underwrittenACU Commission Cut-off rate
(paise per ₹100)

7.06% GS 20287,0003,5073,4937,0002.70

7.18% GS 203313,0006,5106,49013,0005.00

7.30% GS 205310,0005,0194,98110,0006.27

Auction for the sale of securities will be held on October 06, 2023.

Ajit Prasad           
Director (Communications)

Press Release: 2023-2024/1054

On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (October 6, 2023) decided to:

• Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent.

The standing deposit facility (SDF) rate remains unchanged at 6.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent.

• The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the target, while supporting growth.

These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth.

The main considerations underlying the decision are set out in the statement below.

Assessment

Global Economy

2. Global growth is losing momentum. Inflation is easing gradually but remains well above target in major economies. Concerns about higher for longer rates are imparting volatility to global financial markets. Sovereign bond yields have hardened, the US dollar has appreciated, and equity markets have corrected. Emerging market economies (EMEs) are experiencing currency depreciation and volatile capital flows.

Domestic Economy

3. Real gross domestic product (GDP) posted a growth of 7.8 per cent year-on-year (y-o-y) in Q1:2023-24 (April-June), underpinned by private consumption and investment demand.

4. South-west monsoon rainfall recovered during September and ended 6 per cent below the long period average. The acreage under kharif crops was 0.2 per cent higher than a year ago. The index of industrial production rose by 5.7 per cent in July; core industries output expanded by 12.1 per cent in August. Purchasing managers’ indices (PMIs) and other high frequency indicators of the services sector exhibited healthy expansion in August-September.

5. On the demand front, urban consumption is buoyant while rural demand is showing signs of revival. Investment activity is benefitting from public sector capex. Strong growth is seen in steel consumption, cement production as well as in imports and production of capital goods. Merchandise exports and non-oil non-gold imports remained in contraction in August, although the pace of decline eased. Services exports improved in August.

6. CPI headline inflation surged by 2.6 percentage points to 7.4 per cent in July due to spike in vegetable prices, before moderating somewhat in August to 6.8 per cent. Fuel inflation edged up to 4.3 per cent in August. Core inflation (i.e., CPI excluding food and fuel) softened to 4.9 per cent during July-August 2023.

7. As on September 22, 2023, money supply (M3) expanded by 10.8 per cent (y-o-y) and bank credit grew by 15.3 per cent. India’s foreign exchange reserves stood at US$ 586.9 billion as on September 29, 2023.

The Reserve Bank of India today released on its website the results of the following Surveys: Consumer Confidence Survey (CCS) – September 2023 Inflation Expectations Survey of Households (IESH) – September 2023 OBICUS Survey on manufacturing sector – Q1:2023-24 Industrial Outlook Survey of the Manufacturing Sector for Q2:2023-24 Survey of Professional Forecasters on Macroeconomic Indicators – Round1 84rd

Bank Lending Survey for Q2:2023-24

Services and Infrastructure Outlook Survey for Q2:2023-24

The Survey results are based on the feedback received from the respondents to the Surveys and do not necessarily reflect the views of the Reserve Bank of India.

Ajit Prasad            
Director (Communications)

Press Release: 2023-2024/1070

1 The survey results reflect the respondents’ views, which are not necessarily shared by the Reserve Bank. Results of the previous survey round were released on the Bank’s website on August 10, 2023.

1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item20222023Variation Sep. 30Sep. 22Sep. 29WeekYear 12345 4 Loans and Advances 4.1 Central Government00000 4.2 State Governments56111348011606-18745995 * Data are provisional. 2. Foreign Exchange Reserves* ItemAs on September 29, 2023Variation over WeekEnd-March 2023Year ₹ Cr.US$ Mn.₹ Cr.US$ Mn.₹ Cr.US$ Mn.₹ Cr.US$ Mn. 12345678 1 Total Reserves4882783586908-15553 3794128519845854879654244 1.1 Foreign Currency Assets #4328124520236-11803-31271389921054548124247429

1.2 Gold36382443731-3586-576-7676-1469578606126

1.3 SDRs14924317939-123-74-1921-4537456512

1.4 Reserve Position in the IMF415935002-40-18-876-1642238176

* Difference, if any, is due to rounding off.
# Excludes (a) SDR holdings of the Reserve Bank, as they are included under the SDR holdings; (b) investment in bonds issued by IIFC (UK); and (c) amounts lent under the SAARC Currency swap arrangements.

The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period August 28 – September 01, 2023.

All Figures are in USD Millions

Position DateMERCHANTINTER BANK

FCY / INRFCY / FCYFCY / INRFCY / FCY

SpotForwardForward CancelSpotForwardForward CancelSpotSwapForwardSpotSwapForward

Purchases

28-08-20234,6081,4831,17026833819910,87416,0881,1994,9781,680306

29-08-20235,2712,7891,10750761444613,17612,5692,6686,4112,803399

30-08-20233,4781,34189749836926213,35813,9221,6747,1502,3401,202

31-08-20235,8623,46288536136343115,52619,5882,0757,0222,504578

01-09-20237,4259138338831569917,48313,4451,2707,5421,319280

Sales

28-08-20234,7062,23983426033619910,78813,8301,0484,9621,695306

29-08-20234,7522,5551,63852561844813,47411,9472,4976,4052,725399

30-08-20233,2551,77877450335626813,34613,3962,5047,1492,2571,204

31-08-20235,6303,5501,97237234142915,07319,6291,9497,0692,466579

01-09-20234,4501,73275288515610517,21613,4782,1967,5091,280280

(Provisional Data)

Ajit Prasad            
Director (Communications)

Press Release: 2023-2024/1058