Annual Report

Foreign Exchange Reserves

Foreign Exchange Reserves

Total

Movement

(Rupees crore)

(US $ million)

Foreign

in Foreign

Exchange

Exchange

End of Month

SDRs

Gold $

Foreign

Reserve

Total

SDRs

Gold $

Foreign

Reserve

Total

Reserves

Reserves

Currency

Tranche

(2+3+

Currency

Tranche

(7+8+

(in SDR

(in SDR

Assets

Position

4+5)

Assets

Position

9+10)

million)

million)@

in IMF

in IMF

1

2

3

4

5

6

7

8

9

10

11

12

13

Mar-94

339

12,794

47,287

938

61,358

108

4,078

15,068

299

19,553

13,841

6,595

Mar-95

23

13,752

66,005

1,050

80,830

7

4,370

20,809

331

25,517

16,352

2,511

Mar-96

280

15,658

58,446

1,063

75,447

82

4,561

17,044

310

21,997

15,054

-1,298

Mar-97

7

14,557

80,368

1,046

95,978

2

4,054

22,367

291

26,714

19,272

4,218

Mar-98

4

13,394

1,02,507

1,117

1,17,022

1

3,391

25,975

283

29,650

22,200

2,929

Mar-99

34

12,559

1,25,412

2,816

1,40,821

8

2,960

29,522

663

33,153

24,413

2,213

Mar-00

16

12,973

1,52,924

2,870

1,68,783

4

2,974

35,058

658

38,694

28,728

4,315

Mar-01

11

12,711

1,84,482

2,873

2,00,077

2

2,725

39,554

616

42,897

34,034

5,306

Mar-02

50

14,868

2,49,118

2,977

2,67,013

10

3,047

51,049

610

54,716

43,876

9,842

Mar-03

19

16,785

3,41,476

3,192

3,61,472

4

3,534

71,890

672

76,100

55,394

11,518

Jun-03

6

17,182

3,65,001

4,535

3,86,724

1

3,698

78,546

976

83,221

59,407

4,013

Sep-03

17

17,967

3,99,870

5,516

4,23,370

4

3,919

87,213

1,203

92,339

64,582

9,188

Dec-03

13

19,225

4,45,232

6,002

4,70,472

3

4,215

97,617

1,316

1,03,151

69,417

14,022

Mar-04

10

18,216

4,66,215

5,688

4,90,129

2

4,198

1,07,448

1,311

1,12,959

76,298

20,904

Jun-04

8

18,655

5,24,865

5,980

5,49,508

2

4,057

1,14,151

1,301

1,19,511

81,509

5,211

Sep-04

7

19,349

5,26,605

6,015

5,51,976

1

4,192

1,14,083

1,303

1,19,579

81,403

5,105

Dec-04

22

19,969

5,45,466

6,221

5,71,678

5

4,582

1,25,164

1,427

1,31,178

84,467

8,169

Mar-05

20

19,686

5,93,121

6,289

6,19,116

5

4,500

1,35,571

1,438

1,41,514

93,666

17,368

Jun-05

18

19,375

5,75,864

6,791

6,02,048

4

4,453

1,32,352

1,561

1,38,370

94,995

1,329

$: Gold has been valued close to international market price.
@ : Variations over the previous March.
Note : 1.Gold holdings include acquisition of gold worth 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 1,485.22 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.