16c. Turnover in Foreign Exchange Market

RbiAnnouncementWeb

Date: January 16, 1999

														(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. 28, 1998	299	77	144	16		24	12	439		608	92	212		110	28
Dec. 29, 1998	290	43	100	13		147	70	267		783	145	313		263	34
Dec. 30, 1998	332	36	88	10		26	19	360		554	103	118		190	45
Dec. 31, 1998	161	41	23	11		142	87	224		142	19	220		54	72
Jan. 1, 1999	86	17	15	6		7	2	137		129	44	21		3	4

Sales
Dec. 28, 1998	313	208	66	6		25	12	418		485	82	298		113	17
Dec. 29, 1998	300	120	11	5		145	99	257		839	155	271		269	34
Dec. 30, 1998	313	107	37	3		20	18	340		571	95	190		153	45
Dec. 31, 1998	123	65	34	6		142	117	252		174	33	257		52	80
Jan. 1, 1999	78	47	6	3		7	1	134		145	45	21			4
FCY : Foreign Currency INR : Indian Rupees Note : Data relate to sales and purchases of foreign exchange on account ofmerchant and inter-bank transactions.