TaxTMI 
TaxTMI 
TaxTMI 
Sources of Variation in Foreign Exchange Reserves: April-September 2010
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....ources of Variation in Foreign Exchange Reserves: April-September 2010 <br>News and Press Release<br>Dated:- 5-1-2011<br><BR>During April-September 2010, there was an accretion to the foreign exchange reserves in BoP terms (i.e. excluding valuation effects). The sources of variation in the foreign exchange reserves are set out in Table 1. Table 1: Sources of Variation in Foreign Exchange Reserves....
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.... (US $ billion) Items 2009-10 2010-11 April-September April-September I. Current Account Balance -13.3 -27.9 II. Capital Account (net) (a to f) 22.8 34.9 a. Foreign Investment (i+ii) 30.3 29.1 (i) Foreign Direct Investment 12.3 5.3 (ii) Portfolio Investment 17.9 23.8 Of which: FIIs 15.3 22.3 ADRs/GDRs 2.7 1.6 b. External Commercial Borrowings 0.7 6.0 c. Banking....
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.... Capital 1.0 0.8 of which: NRI Deposits 2.9 2.2 d. Short-Term Trade Credit -0.05 6.7 e. External Assistance 1.0 3.0 f. Other Items in Capital Account* -10.2 -10.7 III. Valuation Change 19.8 6.8 Total (I+II+III) @ 29.3 13.8 Note:*: (i) 'Other items in capital account' apart from 'Errors and Omissions' also include SDR allocations, leads and lags in exports, funds held abro....
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....ad, advances received pending issue of shares under FDI and transactions of capital receipts not included elsewhere. (ii) Increase in reserves (+) / Decrease in reserves (-). @: Difference, if any, is due to rounding off. On a balance of payments basis (i.e., excluding valuation effects), the foreign exchange reserves increased by US$ 7.0 billion during April-September 2010 as against an increas....
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....e of US$ 9.5 billion during April-September 2009. The foreign exchange reserves (including the valuation effects) increased by US$ 13.8 billion during April-September 2010 as compared with an increase of US$ 29.3 billion during April-September 2009 (Table 2). Table 2: Comparative Position (US$ billion) Items 2009-10 April-September 2010-11 April-September 1. Change in Foreign Exchange Reser....
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....ves (Including Valuation Effects) 29.3 13.8 2. Valuation Effects (Gain (+)/Loss (-)) 19.8 6.8 3. Change in Foreign Exchange Reserves on BoP basis (i.e., Excluding Valuation Effects) 9.5 7.0 4. Percentage of increase/decline in Reserves explained by Valuation Gain/Loss 67.7 49.3 Note: Increase in reserves (+)/Decrease in reserves (-). The valuation gains, reflecting the depreci....
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....ation of the US dollar against major currencies, accounted for US$ 6.8 billion during April-September 2010 as compared with valuation gains of US$ 19.8 billion during April-September 2009. Accordingly, valuation gains accounted for 49.3 per cent of the total increase in foreign exchange reserves during April-September 2010. Alpana Killawala Chief General Manager<BR> News - Press release - PIB....