Today, the Reserve Bank released data relating to India’s International Investment Position for end-June 2023[1]. Key Features of India’s IIP in end-June 2023: Net claims of non-residents on India increased by US$ 12.1 billion during Q1:2023-24 and stood at US$ 379.7 billion as at end-June 2023.The rise in net claims of non-residents during the quarter was on account of higher rise in foreign-owned financial assets in India (US$ 36.2 billion) when compared with Indian residents’ overseas financial assets (US$ 24.1 billion) (Table 1).Increase in reserve assets (US$ 16.6 billion) was the largest contributor to the rise in Indian residents’ foreign assets during April-June 2023, followed by direct investment, loans and trade credit.Inward portfolio investment (US$ 15.0 billion) and foreign direct investment (US$ 8.9 billion) together accounted for two thirds of the rise in foreign liabilities of Indian residents.Reserve assets accounted for 64.2 per cent of India’s international financial assets at end-June 2023 (Tables 1 and 2).

The stock of external debt at end-June 2023 as well as revised data for earlier quarters are set out in Statements I (IMF format1) and II (old format). The major developments relating to India’s external debt as at end-June 2023 are presented below.Highlights At end-June 2023, India’s external debt was placed at US$ 629.1 billion, recording an increase of US$ 4.7 billion over its level at end-March 2023 (Table 1).The external debt to GDP ratio declined to 18.6 per cent at end-June 2023 from 18.8 per cent at end-March 2023.

Earlier today, the Reserve Bank of India released balance of payments (BoP) data for April-June 2023 on its website (www.rbi.org.in). On the basis of these data, the sources of variation in foreign exchange reserves during April-June 2023 are detailed below: Sources of Variation in Foreign Exchange Reserves: April-June 2023 During April-June 2023, there was an increase in the foreign exchange reserves, the sources of which are set out in Table.

Preliminary data on India’s balance of payments (BoP) for the first quarter (Q1), i.e., April-June 2023-24, are presented in Statements I (BPM6 format) and II (old format).Key Features of India’s BoP in Q1:2023-24.India’s current account deficit (CAD) narrowed to US$ 9.2 billion (1.1 per cent of GDP) in Q1:2023-24 from US$ 17.9 billion (2.1 per cent of GDP) in Q1:2022-23 but it was higher than US$ 1.3 billion (0.2 per cent of GDP) in the preceding quarter.1
The widening of CAD on a quarter-on-quarter basis was primarily on account of a higher trade deficit coupled with a lower surplus in net services and decline in private transfer receipts.Net services receipts decreased sequentially, primarily due to a decline in exports of computer, travel and business services, though remained higher on a year-on-year (y-o-y) basis.

The Reserve Bank of India has today released the data on Overseas Direct Investment, both under Automatic Route and the Approval Route, for the month of August 2023.

Ajit Prasad           
Director (Communications)

Press Release: 2023-2024/918

The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period August 14 – August 18, 2023.

All Figures are in USD Millions

Position
DateMERCHANTINTER BANK

FCY / INRFCY / FCYFCY / INRFCY / FCY

SpotForwardForward CancelSpotForwardForward CancelSpotSwapForwardSpotSwapForward

Purchases

14-08-20233,4121,79063031463522615,55310,4626596,0682,697310

17-08-20238,1852,7971,07140142136916,61217,8432,3778,8092,554267

18-08-20234,2001,20591421038715613,40517,8181,0598,8473,044360

Sales

14-08-20235,0471,6347783271,05122611,9009,1211,7025,7702,707310

17-08-20237,4302,9661,92140041536914,57617,7162,0108,8512,577267

18-08-20235,5082,28257321339015512,81615,7169938,8903,041360

(Provisional Data)

Ajit Prasad            
Director (Communications)

Press Release: 2023-2024/890

The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period August 21 – August 25, 2023.

All Figures are in USD Millions

Position
DateMERCHANTINTER BANK

FCY / INRFCY / FCYFCY / INRFCY / FCY

SpotForwardForward CancelSpotForwardForward CancelSpotSwapForwardSpotSwapForward

Purchases

21-08-20234,0301,0551,38136914825013,44313,2771,4527,3111,972373

22-08-20233,9741,1841,14921717014213,49412,8251,2887,3281,980396

23-08-20233,7491,5071,18741345958617,02511,5162,1548,3062,041581

24-08-20234,0361,08499449927023116,45411,6013,2026,1692,172354

25-08-20234,5141,0651,16724126125614,20813,6672,4378,1592,362664

Sales

21-08-20235,1621,75246540015925212,83214,6771,5427,3061,910372

22-08-20234,6471,71996324217814213,07616,8848377,3651,998397

23-08-20234,0762,1251,16142145060816,60916,9241,4418,3192,045581

24-08-20234,1522,83987449526423115,65416,6112,6496,1482,081354

25-08-20234,1852,77976024726225613,92014,7241,9448,1082,329664

(Provisional Data)

Ajit Prasad            
Director (Communications)

Press Release: 2023-2024/891

The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period July 31 – August 04, 2023.

All Figures are in USD Millions

Position DateMERCHANTINTER BANK

FCY / INRFCY / FCYFCY / INRFCY / FCY

SpotForwardForward CancelSpotForwardForward CancelSpotSwapForwardSpotSwapForward

Purchases

31-07-20234,5252,8831,27325848557913,02117,9505897,4312,743404

01-08-20233,00085247336734128211,97112,6207377,6661,737270

02-08-20233,6542,3001,33440618027012,96115,8411,1827,4831,979286

03-08-20234,6282,38892740443458314,85614,8751,2059,0461,700516

04-08-20233,6351,68754332920520011,35312,4841,2485,6562,166354

Sales

31-07-20234,0292,2861,67327247957713,58614,6231,1207,5292,739404

01-08-20232,6191,54026136832528011,21312,2711,4907,6941,755271

02-08-20233,9532,47262639718626912,68014,4172,2697,6341,950286

03-08-20234,2072,14938842341758314,59713,2012,2579,0891,661516

04-08-20234,0711,09943533221320011,28410,5051,4565,6812,172354

(Provisional Data)

Ajit Prasad            
Director (Communications)

Press Release: 2023-2024/888

The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period August 07 – August 11, 2023.

All Figures are in USD Millions

Position
Date MERCHANTINTER BANK

FCY / INRFCY / FCY FCY / INR FCY / FCY

Spot Forward Forward
Cancel Spot Forward Forward
Cancel Spot Swap Forward Spot Swap Forward

Purchases

07-08-20234,2491,16186619622214911,01413,1646016,1031,787206

08-08-20234,8321,6101,25919628834511,81115,4251,2079,2082,130534

09-08-20233,5461,3271,21420317821612,39412,8271,1246,4032,028340

10-08-20233,7821,29065328719815611,99010,5361,3579,0061,844473

11-08-20234,4801,15543062635733711,55315,2721,3876,1262,150264

Sales

07-08-20233,7852,27545122023014911,2569,6389246,0671,829205

08-08-20234,5242,96768621128734612,23712,2091,5099,1862,167534

09-08-20234,3622,04740721019221612,23111,5481,2626,4162,061340

10-08-20234,0141,39254128018615611,77810,4931,1139,0471,807474

11-08-20234,5891,67549763240933711,17914,9831,0716,0762,213260

(Provisional Data)

Ajit Prasad           
Director (Communications)

Press Release: 2023-2024/889

The Reserve Bank of India has today released the data on Overseas Direct Investment, both under Automatic Route and the Approval Route, for the month of July 2023. Ajit Prasad Director (Communications) Press Release: 2023-2024/824