Total

Movement

Reserve

Foreign Exchange Reserves

Foreign Exchange Reserves

Foreign

in Foreign

Position

(Rupees crore)

(US $ million)

Exchange

Exchange

in the

End of Month

SDRs *

Gold #

Foreign

Total

SDRs

Gold #

Foreign

Total

Reserves

Reserves

Fund

Currency

(2+3+4)

Currency

(6+7+8)

(in SDR

(in SDR

(in SDR

Assets

Assets

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)

June 1997

12

14,054

90,983

1,05,049

3

3,924

25,404

29,331

21,130

2,078

212

(18,750)

(2,174)

September 1997

108

13,415

92,982

1,06,505

30

3,708

25,697

29,435

21,561

2,509

212

(19,292)

(2,716)

December 1997

304

13,013

93,978

1,07,295

77

3,313

23,965

27,355

20,274

1,222

212

(18,265)

(1,689)

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)

June 1998

344

12,826

1,01,831

1,15,001

81

3,020

23,933

27,034

20,303

- 1,680

212

(18,437)

(- 1454)

September 1998

61

12,678

1,11,377

1,24,116

14

2,984

26,184

29,182

21,280

- 703

212

(19,506)

(- 385)

December 1998

353

12,808

1,14,693

1,27,855

83

3,015

26,958

30,056

21,346

- 637

212

(19,607)

(- 284)

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)

June 1999 P

1

11,732

1,32,505

1,44,238

-

2,706

30,559

33,265

24,901

973

489

(23,278)

(1,128)

P.

Provisional

*

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 :

Gold holdings include acquisition of gold worth US $ 191 million 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 during1995-96. 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. 1,485.22 crore (US $ 376.0 million) and 0.59 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 and SDRs into US dollar is 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.