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Variation in Foreign Exchange Reserves in India during Apr-Sep 2018

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.

Sources of Variation in Foreign Exchange Reserves in India during April-September 2018

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).

Sources of Variation in Foreign Exchange Reserves in India during April-September 2018

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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