16c. Turnover in Foreign Exchange Market

RbiAnnouncementWeb

Date: December 26, 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
Dec. 7, 1998	272	49	35	24		41	30	387		517	59	366		153	17
Dec. 8, 1998	209	35	26	17		20	14	425		442	69	356		124	10
Dec. 9, 1998	242	31	31	12		32	14	283		370	134	390		100	14
Dec. 10, 1998	232	43	19	7		37	27	342		440	37	439		127	16
Dec. 11, 1998	195	18	19	10		14	16	173		80	10	452		63	7

Sales
Dec 7, 1998	338	44	20	3		37	27	352		513	67	362		150	17
Dec. 8, 1998	192	84	24	3		20	14	382		416	60	370		132	10
Dec. 9, 1998	230	103	7	8		30	13	258		401	119	408		93	14
Dec. 10, 1998	258	137	12	4		33	30	298		416	37	449		145	16
Dec. 11, 1998	211	51	6	7		12	15	153		82	14	463		63	7
FCY : Foreign Currency INR : Indian Rupees Note : Data relate to sales and purchases of foreign exchange on account ofmerchant and inter-bank transactions.