No. 50 : Turnover in Foreign Exchange Market

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Published on November 11, 1998

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No. 50 : Turnover in Foreign Exchange Market


														(US$ Million)

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

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

Purchases
September 1,	1998	164	65	42		25	91	57		438	810	43	985	161	75
September 2,	1998	166	48	33		25	71	52		325	811	60	850	175	15
September 3,	1998	162	67	5		30	72	45		593	769	91	1145	193	155
September 4,	1998	177	80	25		49	89	68		363	619	74	853	131	61
September 7,	1998	195	77	50		24	178	53		364	492	76	1208	194	37
September 8,	1998	151	67	24		28	72	63		294	773	68	1056	248	38
September 9,	1998	203	33	35		85	106	87		240	605	56	1198	167	13
September10,	1998	220	58	56		49	79	67		422	642	60	1298	196	30
September11,	1998	193	54	36		59	98	65		408	615	55	1082	173	69
September14,	1998	274	57	48		38	111	76		491	597	63	750	237	51
September15,	1998	161	53	55		57	182	72		255	394	50	1002	192	39
September16,	1998	158	72	31		115	121	110		338	691	36	1069	224	15
September17,	1998	178	57	65		74	192	101		460	543	76	1225	287	21
September18,	1998	220	52	78		48	124	107		336	555	96	1029	181	14
September21,	1998	206	52	63		46	38	67		261	535	81	1203	229	27
September22,	1998	222	52	78		44	36	75		337	521	66	1102	189	37
September23,	1998	197	93	115		58	133	65		494	914	139	815	278	43
September24,	1998	182	49	74		59	101	93		370	657	90	1204	386	19
September25,	1998	224	90	193		70	97	91		529	673	75	1650	311	40
September28,	1998	340	71	80		176	109	193		371	629	128	1193	281	52
September29,	1998	179	66	96		234	86	221		317	480	125	1063	226	50
September30,	1998*
Sales
September 1,	1998	168	48	24		25	91	55		494	750	47	872	168	75
September 2,	1998	210	41	16		25	73	76		319	789	66	859	188	15
September 3,	1998	402	90	25		29	74	67		318	803	67	1104	210	149
September 4,	1998	215	65	22		54	70	80		346	682	91	898	108	63
September 7,	1998	239	92	42		24	94	143		362	506	64	1226	200	35
September 8,	1998	207	97	62		28	58	99		274	805	59	1032	275	37
September 9,	1998	174	74	58		76	90	94		221	599	66	1248	160	13
September10,	1998	238	115	30		49	80	142		378	701	72	1249	204	28
September11,	1998	265	86	38		55	90	81		359	658	45	1106	170	69
September14,	1998	303	62	42		39	93	87		486	653	63	839	207	54
September15,	1998	158	95	25		58	107	248		266	418	44	926	266	39
September16,	1998	203	79	32		115	71	111		302	686	55	1154	240	15
September17,	1998	236	95	31		74	150	164		417	555	75	1268	275	19
September18,	1998	173	109	30		49	55	127		379	599	85	1019	150	14
September21,	1998	203	126	49		46	35	169		221	525	92	1141	223	26
September22,	1998	239	124	27		46	35	72		321	442	76	1106	234	37
September23,	1998	182	168	45		58	85	115		490	887	143	963	228	42
September24,	1998	228	136	30		59	53	138		326	660	101	1191	424	19
September25,	1998	311	330	82		66	82	163		461	728	63	1614	345	38
September28,	1998	401	112	34		177	56	226		353	663	100	1311	364	51
September29,	1998	267	104	75		234	38	283		316	566	101	1006	233	50
September30,	1998*

FCY	: Foreign Currency.
INR	: Indian Rupees.
Note	: Data relate to sales and purchases of foreign exchange on account of merchant and inter-bank transactions. Data are provisional.
*	: Half yearly closing of Banks.