Dec 07, 2018: The Reserve Bank of India has released the balance of payments (BoP) data for July-September 2018 on its website. On the basis of these data, the sources of variation in foreign exchange reserves during April-September 2018 have been compiled.
Sources of Variation in Foreign Exchange Reserves: April-September 2018
During April-September 2018, there was a decrease in the foreign exchange reserves. The sources of variation in the foreign exchange reserves are set out in Table 1.
On a balance of payments basis (i.e., excluding valuation effects), the foreign exchange reserves decreased by US$ 13.2 billion during April-September 2018 as against an increase of US$ 20.9 billion during April-September 2017. The foreign exchange reserves in nominal terms (including the valuation effects) decreased by US$ 24.0 billion during April-September 2018 as against an increase of US$ 30.3 billion during the same period of the preceding year (Table 2).
The valuation loss, mainly reflecting the appreciation of the US dollar against major currencies, amounted to US$ 10.8 billion during April-September 2018 as against a gain of US$ 9.3 billion during the same period of the preceding year.
Source: RBI
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