Sources of Variation in Foreign Exchange Reserves in India during April-September 2011 - RBI - Reserve Bank of India
Sources of Variation in Foreign Exchange Reserves in India during April-September 2011
Earlier today, the Reserve Bank of India released the Balance of Payments (BoP) data for Q2 of 2011-12 (July-September 2011) on its website (www.rbi.org.in). On the basis of these data, the sources of variation in foreign exchange reserves during April-September 2011 have been compiled. Sources of Variation in Foreign Exchange Reserves: April-September 2011 During April-September 2011, there was an accretion to the foreign exchange reserves. The sources of variation in the foreign exchange reserves are set out in Table 1.
On a balance of payments basis (i.e., excluding valuation effects), the foreign exchange reserves increased by US$ 5.7 billion during April-September 2011 as compared with an increase of US$ 7.0 billion during the same period previous year. The foreign exchange reserves (including the valuation effects) increased by US$ 6.7 billion during April-September 2011 as against an increase of US$ 13.8 billion during the same period a year ago (Table 2).
The valuation gains, reflecting the depreciation of the US dollar against major currencies, amounted to US$ 0.9 billion during April-September 2011 as compared with valuation gain of US$ 6.8 billion during the same period last year. Accordingly, valuation gains accounted for 13.4 per cent of the total increase in foreign exchange reserves during April-September of 2011-12. Ajit Prasad Press Release : 2011-2012/1039 |