Sources of Variation in Foreign Exchange Reserves in India during April-September 2013 - RBI - Reserve Bank of India
Sources of Variation in Foreign Exchange Reserves in India during April-September 2013
Earlier today, the Reserve Bank of India released the Balance of Payments (BoP) data for April-September 2013 on its website (www.rbi.org.in). On the basis of these data, the sources of variation in foreign exchange reserves during April-September 2013 have been compiled. Sources of Variation in Foreign Exchange Reserves: April-September 2013 During April-September 2013, there was a decline in the foreign exchange reserves. The sources of variation in the foreign exchange reserves are set out in Table 1.
On balance of payments basis (i.e., excluding valuation effects), the foreign exchange reserves declined by US$ 10.7 billion during April-September 2013 as against an increase of US$ 0.4 billion during April-September 2012. The foreign exchange reserves in nominal terms (including the valuation effects) declined by US$ 14.8 billion during April-September 2013 as against an increase of US$ 0.4 billion during the same period of preceding year (Table 2).
The valuation loss, reflecting the appreciation of the US dollar against major currencies, amounted to US$ 4.1 billion during April-September 2013 as against a marginal gain of US$ 0.1 billion during the same period of preceding year. Alpana Killawala Press Release : 2013-2014/1113 |