Foreign Exchange Reserves

Foreign Exchange Reserves

Total

Movement

Reserve

(Rupees crore)

(US $ million)

Foreign

in Foreign

Position

End of Month

SDRs*

Gold $

Foreign

Total

SDRs

Gold

Foreign

Total

Exchange

Exchange

in the

Currency

(2+3+4)

Currency

(6+7+8)

Reserves

Reserves

Fund

Assets

Assets

(in SDR

(in SDR

(in SDR

million)

million) @

million)+

1

2

3

4

5

6

7

8

9

10

11

12

March 1993

55

10,549

20,140

30,744

18

3,380

6,434

9,832

7,033

317

212

March 1994

339

12,794

47,287

60,420

108

4,078

15,068

19,254

13,631

6,598

212

(11,156)

(6,141)

March 1995

23

13,752

66,005

79,780

7

4,370

20,809

25,186

16,137

2,506

212

(13,786)

(2,630)

March 1996

280

15,658

58,446

74,384

82

4,561

17,044

21,687

14,841

-1,296

212

(12,167)

(-1,619)

March 1997

7

14,557

80,368

94,932

2

4,054

22,367

26,423

19,052

4,211

212

(16,576)

(4,409)

March 1998

4

13,394

1,02,507

1,15,905

1

3,391

25,975

29,367

21,983

2,931

212

(19,891)

(3,315)

March 1999

34

12,559

1,25,412

1,38,005

8

2,960

29,522

32,490

23,928

1,945

489

(22,150)

(2,259)

March 2000

16

12,973

1,52,924

1,65,913

4

2,974

35,058

38,036

28,240

4,312

489

(26,435)

(4,285)

March 2001

11

12,711

1,84,482

1,97,204

2

2,725

39,554

42,281

33,540

5,300

489

(31,781)

(5,346)

June 2001

20

13,163

1,91,226

2,04,409

4

2,798

40,652

43,454

34,884

1,344

489

(33,041)

(1,260)

September 2001

21

13,998

2,00,762

2,14,781

4

2,925

41,948

44,877

34,815

1,275

489

(32,949)

(1,168)

December 2001

25

13,761

2,18,021

2,31,807

5

2,856

45,251

48,112

38,318

4,778

489

(36,446)

(4,665)

March 2002

50

14,868

2,49,118

2,64,036

10

3,047

51,049

54,106

43,392

9,852

489

(41,351)

(9,570)

June 2002

47

16,272

2,67,333

2,83,652

10

3,330

54,703

58,043

43,626

234

489

(41,526)

(175)

September 2002

48

15,964

2,88,648

3,04,660

10

3,300

59,663

62,973

47,609

4,217

489

(45,517)

(4,166)

December 2002

33

   16,542

     3,21,774

     3,38,349

7

3,444

66,994

70,445

52,005

8,613

489

(49,865)

(8,514)

March 2003

19

16,785

3,41,476

3,58,280

4

3,534

71,890

75,428

54,905

11,513

489

(52,736)

(11,385)

June 2003

6

17,182

3,65,001

3,82,189

1

3,698

78,546

82,245

58,711

3,806

697

(56,474)

(3,738)

* At Rupee-SDR exchange rate at the end of the respective month.
$ Gold has been valued close to international market price.
@ Variations over the previous March.
+ Cover drawal of Reserve Position in the Fund.
Note :
1. Gold holdings include acquisition of gold worth US $ 191million from the Government during 1991-92, US $ 29.4 million during 1992-93, US $ 139.3 million during 1993-94, US $ 315.0 million during 1994-95 and US $ 17.9 million during 1995-96. On the other hand, 1.27 tonnes of gold amounting to Rs 43.55 crore (US $11.97 million), 38.9 tonnes of gold amounting to Rs 1485.22 crore (US $ 376.0 million) and 0.06 tonnes of gold amounting to Rs. 2.13 crore (US $ 0.5 million) were repurchased by the Central Government on November 13, 1997, April 1, 1998 and October 5, 1998, respectively, for meeting its redemption obligation under the Gold Bond Scheme.
2. Conversion of foreign currency assets into US dollar was done at exchange rates supplied by the IMF up to March 1999. Effective April 1, 1999, the conversion is at New York closing exchange rate.
3. Figures in brackets represent reserves adjusted for gold revaluation, pursuant to the practice of valuing gold reserves close to international market price, effective October 17, 1990.