TaxTMI 
TaxTMI 
Sources of Variation in Foreign Exchange Reserves in India during April-September 2012
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....ources of Variation in Foreign Exchange Reserves in India during April-September 2012 <br>News and Press Release<br>Dated:- 31-12-2012<br><BR>Date : 31 Dec 2012 Earlier today, the Reserve Bank of India released the Balance of Payments (BoP) data for Q2 of 2012-13 (July-September 2012) on its website (www.rbi.org.in). On the basis of these data, the sources of variation in foreign exchange reserve....
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....s 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 Ap....
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....ril-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.....
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....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 export....
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....s, 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 dur....
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....ing 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 Exc....
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....hange 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 round....
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....ing 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<BR> News - Press release - PIB....