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TMI BlogSources of Variation in Foreign Exchange Reserves in India during April-September 2012X X X X Extracts X X X X X X X X Extracts X X X X ..... Sources of Variation in Foreign Exchange Reserves in India during April-September 2012 X X X X Extracts X X X X X X X X Extracts X X X X ..... es during April-September 2012 have been compiled. Sources of Variation in Foreign Exchange Reserves: April-September 2012 During April-September 2012, there was small accretion to the foreign exchange reserves. The sources of variation in the foreign exchange reserves are set out in Table 1. Table 1: Sources of Variation in Foreign Exchange Reserves* (US $ billion) Items 2011-12 2012-13 A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pril-September April-September I. Current Account Balance -36.4 -39.0 II. Capital Account (net) (a to f) 42.1 39.3 a. Foreign Investment (i+ii) 17.1 18.6 (i) Foreign Direct Investment 15.8 12.8 (ii) Portfolio Investment 1.3 5.8 Of which: FIIs 0.9 6.2 ADRs/GDRs 0.5 0.2 b. External Commercial Borrowings 8.4 1.7 c. Banking Capital 19.7 14.9 of which: NRI Deposits 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .9 9.4 d. Short-Term Trade Credit 5.9 9.5 e. External Assistance 0.6 0.0 f. Other Items in Capital Account -9.7 -5.4 III. Valuation Change 0.9 0.1 Total (I+II+III) @ 6.6 0.4 *: Based on old format of BoP @: Difference, if any, is due to rounding off. Note: (i) 'Other items in capital account' apart from 'Errors and Omissions' include SDR allocations, leads and lags in expor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts, funds held abroad, advances received pending issue of shares under FDI and transactions of capital receipts not included elsewhere. (ii) Increase in reserves(+) / Decrease in reserves (-). On a balance of payments basis (i.e., excluding valuation effects), the foreign exchange reserves increased by US$ 0.4 billion during April-September 2012 as compared with an increase of US$ 5.7 billion du ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ring the same period previous year. The foreign exchange reserves (including the valuation effects) increased by US$ 0.4 billion during April-September 2012 as against an increase of US$ 6.6 billion during the same period a year ago (Table 2). Table 2: Comparative Position of Variation in Reserves (US$ billion) Items 2011-12 April-September 2012-13 April-September 1. Change in Foreign Ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... change Reserves (Including Valuation Effects) 6.6 0.41 2. Valuation Effects (Gain (+)/Loss (-)) 0.9 0.05 3. Change in Foreign Exchange Reserves on BoP basis (i.e., Excluding Valuation Effects) 5.7 0.36 4. Percentage of increase/decline in Reserves explained by Valuation Gain/Loss 13.7 12.2 Note: Increase in reserves (+)/Decrease in reserves (-). Difference, if any, is due to roun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ding off.
The valuation gains, reflecting the depreciation of the US dollar against major currencies, amounted to US$ 0.05 billion during April-September 2012 as compared with valuation gain of US$ 0.9 billion during the same period last year.
Alpana Killawala
Chief General Manager
Press Release : 2012-2013/1097 X X X X Extracts X X X X X X X X Extracts X X X X
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