16c. Turnover in Foreign Exchange Market

RbiAnnouncementWeb

Date: December 19, 1998

														(US$ Million)

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

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

Purchases
Nov. 30, 1998	293	77	117	30		46	51	634		587	74	313		89	28
Dec. 1, 1998	217	38	42	49		28	23	451		545	117	540		93	42
Dec. 2, 1998	218	42	33	8		42	21	423		700	115	460		101	28
Dec. 3, 1998	226	43	23	23		84	65	402		513	74	793		140	33
Dec. 4, 1998	207	58	27	14		47	43	401		415	28	468		107	33

Sales
Nov. 30, 1998	320	216	75	11		44	50	551		612	103	312		92	28
Dec. 1, 1998	243	118	18	16		25	22	482		493	146	546		98	41
Dec. 2, 1998	224	57	13	4		38	20	437		650	114	468		126	29
Dec. 3, 1998	257	76	20	14		75	68	372		444	67	773		140	34
Dec. 4, 1998	232	64	8	2		46	41	407		411	38	477		98	33
FCY : Foreign Currency INR : Indian Rupees Note : Data relate to sales and purchases of foreign exchange on account ofmerchant and inter-bank transactions.