Appendix Table VI.9 : India';s Foreign Exchange Reserves
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Foreign Exchange Reserves
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Foreign Exchange Reserves
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Total
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Movement
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(Rupees crore)
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(US $ million)
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Foreign
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in Foreign
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End of Month
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Exchange
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Exchange
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SDRs
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Gold *
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Foreign
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Reserve
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Total
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SDRs
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Gold*
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Foreign
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Reserve
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Total
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Reserves
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Reserves
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Currency
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Tranche
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(2+3+
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Currency
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Tranche
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(7+8+
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(in SDR
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(in SDR
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Assets
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Position
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4+5)
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Assets
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Position
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9+10)
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million)
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million)@
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in IMF
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in IMF
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1
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2
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3
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4
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5
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6
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7
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8
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9
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10
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11
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12
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13
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March 1994
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339
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12,794
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47,287
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938
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61,358
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108
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4,078
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15,068
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299
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19,553
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13,841
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6,595
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(11,367)
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(6,140)
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March 1995
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23
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13,752
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66,005
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1,050
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80,830
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7
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4,370
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20,809
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331
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25,517
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16,352
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2,511
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(13,998)
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(2,631)
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March 1996
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280
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15,658
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58,446
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1,063
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75,447
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82
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4,561
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17,044
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310
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21,997
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15,054
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-1,298
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(12,379)
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-(1,619)
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March 1997
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7
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14,557
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80,368
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1,046
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95,978
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2
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4,054
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22,367
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291
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26,714
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19,272
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4,218
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(16,796)
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(4,416)
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March 1998
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4
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13,394
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1,02,507
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1,117
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1,17,022
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1
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3,391
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25,975
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283
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29,650
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22,200
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2,929
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(20,108)
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(3,312)
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March 1999
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34
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12,559
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1,25,412
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2,816
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1,40,821
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8
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2,960
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29,522
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663
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33,153
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24,413
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2,213
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(22,635)
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(2,527)
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March 2000
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16
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12,973
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1,52,924
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2,870
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1,68,783
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4
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2,974
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35,058
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658
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38,694
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28,728
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4,315
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(26,923)
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(4,288)
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March 2001
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11
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12,711
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1,84,482
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2,873
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2,00,077
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2
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2,725
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39,554
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616
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42,897
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34,034
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5,306
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(32,276)
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(5,353)
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March 2002
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50
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14,868
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2,49,118
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2,977
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2,67,013
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10
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3,047
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51,049
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610
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54,716
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43,876
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9,842
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(41,836)
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(9,561)
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June 2002
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47
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16,272
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2,67,333
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3,177
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2,86,829
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10
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3,330
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54,703
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650
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58,693
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44,114
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238
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(42,014)
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(178)
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September 2002
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48
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15,964
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2,88,648
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3,130
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3,07,790
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10
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3,300
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59,663
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647
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63,620
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48,098
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4,222
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(46,006)
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(4,170)
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December 2002
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33
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16,542
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3,21,774
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3,194
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3,41,543
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7
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3,444
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66,994
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665
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71,110
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52,496
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8,620
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(50,356)
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(8,520)
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March 2003
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19
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16,785
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3,41,476
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3,192
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3,61,472
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4
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3,534
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71,890
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672
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76,100
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55,394
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11,518
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(53,225)
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(11,389)
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June 2003
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6
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17,182
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3,65,001
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4,535
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3,86,724
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1
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3,698
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78,546
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976
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83,221
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59,407
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4,013
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(57,171)
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(3,946)
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September 2003
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17
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17,967
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3,99,870
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5,516
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4,23,370
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4
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3,919
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87,213
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1,203
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92,339
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64,582
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9,188
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(62,244)
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(9,019)
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December 2003
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13
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19,225
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4,45,232
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6,002
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4,70,472
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3
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4,215
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97,617
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1,316
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1,03,151
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69,417
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14,022
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(66,983)
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(13,758)
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March 2004
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10
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18,216
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4,66,215
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5,688
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4,90,129
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2
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4,198
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1,07,448
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1,311
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1,12,959
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76,298
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20,904
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(73,866)
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(20,641)
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June 2004
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8
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18,655
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5,24,865
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5,980
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5,49,508
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2
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4,057
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1,14,151
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1,301
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1,19,511
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81,509
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5,211
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(79,145)
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(5,280)
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* : Gold has been valued close to international market price.
@ : Variations over the previous March.
Note :
1. Gold holdings include acquisition of gold amounting to US
$ 191 million from the Government during 1991-92,
US $ 29.4 million during 1992-93, US $ 139.3 million during 1993-94, US
$ 315.0 million during 1994-95
and US $ 17.9 million during 1995-96. On the other hand, 1.27 tonnes of
gold amounting to Rs.43.55 crore
(US $11.97 million), 38.9 tonnes of gold amounting to Rs.1485.22 crore
(US $ 376.0 million) and 0.06 tonnes
of gold amounting to Rs.2.13 crore (US $ 0.5 million) were repurchased
by the Central Government on
November 13, 1997, April 1, 1998 and October 5, 1998, respectively, for
meeting its redemption obligation under the Gold Bond Scheme.
2. Conversion of foreign currency assets into US dollar was done at exchange
rates supplied by the IMF
up to March 1999. Effective April 1, 1999, the conversion is at New York
closing exchange rate.
3. Figures in parentheses represent reserves adjusted for gold revaluation,
pursuant to the practice of
valuing gold reserves close to international market price, effective October
17, 1990.
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