The amount of foreign currency, SDRs and gold that are held by the Reserve Bank of India or the Central Bank of any country is known as the foreign exchange reserves of a country.
The foreign exchange reserves include three items; gold, SDRs and foreign currency assets. As of November, 2002 India has over US $ 65 billion of total reserves, foreign currency assets account the major share. Gold accounts for about US $ 3 billion. In July 1991, as a part of reserve management policy, and as a means of raising resources, the RBI temporarily pledged gold to raise loans. The gold holdings, thus have played a crucial role of reserve management at a time of external crisis. Since then, Gold has played passive role in reserve management.
The level of foreign exchange reserves has steadily increased from US$ 5.8 billion as at end-March, 1991 to US$ 54.1 billion as at end-March 2002 and further to US$ 65 billion as of November, 2002. The traditional measure of trade based indicator of reserve adequacy, i.e., the import cover (defined as the twelve times the ratio of reserves to merchandise imports ) which shrank to 3 weeks of imports by the end of December 1990, has improved to about 11.5 months as at end-March 2002.
The debt-based indicators of reserve adequacy show remarkable improvement in the 1990s. The proportion of short term debt (i.e., debt obligations with an original maturity up to one year) to foreign exchange reserves has substantially declined from 147 per cent as at end-March 1991 to 8 per cent as at end-March 2001. i.e. most of the foreign exchange reserves that we have right now have a repayment obligation that exceeds three years - which reflects a higher quality of reserves.
The foreign exchange reserves include three items; gold, SDRs and foreign currency assets. As of November, 2002 India has over US $ 65 billion of total reserves, foreign currency assets account the major share. Gold accounts for about US $ 3 billion. In July 1991, as a part of reserve management policy, and as a means of raising resources, the RBI temporarily pledged gold to raise loans. The gold holdings, thus have played a crucial role of reserve management at a time of external crisis. Since then, Gold has played passive role in reserve management.
The level of foreign exchange reserves has steadily increased from US$ 5.8 billion as at end-March, 1991 to US$ 54.1 billion as at end-March 2002 and further to US$ 65 billion as of November, 2002. The traditional measure of trade based indicator of reserve adequacy, i.e., the import cover (defined as the twelve times the ratio of reserves to merchandise imports ) which shrank to 3 weeks of imports by the end of December 1990, has improved to about 11.5 months as at end-March 2002.
The debt-based indicators of reserve adequacy show remarkable improvement in the 1990s. The proportion of short term debt (i.e., debt obligations with an original maturity up to one year) to foreign exchange reserves has substantially declined from 147 per cent as at end-March 1991 to 8 per cent as at end-March 2001. i.e. most of the foreign exchange reserves that we have right now have a repayment obligation that exceeds three years - which reflects a higher quality of reserves.
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ReplyDeleteIn this manner my partner Wesley Virgin's autobiography launches with this SHOCKING AND CONTROVERSIAL video.
ReplyDeleteWesley was in the military-and soon after leaving-he found hidden, "MIND CONTROL" tactics that the government and others used to get anything they want.
As it turns out, these are the exact same tactics lots of celebrities (especially those who "became famous out of nowhere") and top business people used to become wealthy and famous.
You probably know how you only use 10% of your brain.
Really, that's because most of your brain's power is UNTAPPED.
Maybe this conversation has even occurred INSIDE OF YOUR own head... as it did in my good friend Wesley Virgin's head 7 years back, while driving an unlicensed, beat-up garbage bucket of a vehicle without a driver's license and with $3.20 on his bank card.
"I'm absolutely frustrated with going through life paycheck to paycheck! When will I finally make it?"
You've taken part in those questions, am I right?
Your success story is going to happen. You need to start believing in YOURSELF.
Watch Wesley Virgin's Video Now!
In this manner my partner Wesley Virgin's autobiography launches with this SHOCKING AND CONTROVERSIAL video.
ReplyDeleteWesley was in the military-and soon after leaving-he found hidden, "MIND CONTROL" tactics that the government and others used to get anything they want.
As it turns out, these are the exact same tactics lots of celebrities (especially those who "became famous out of nowhere") and top business people used to become wealthy and famous.
You probably know how you only use 10% of your brain.
Really, that's because most of your brain's power is UNTAPPED.
Maybe this conversation has even occurred INSIDE OF YOUR own head... as it did in my good friend Wesley Virgin's head 7 years back, while driving an unlicensed, beat-up garbage bucket of a vehicle without a driver's license and with $3.20 on his bank card.
"I'm absolutely frustrated with going through life paycheck to paycheck! When will I finally make it?"
You've taken part in those questions, am I right?
Your success story is going to happen. You need to start believing in YOURSELF.
Watch Wesley Virgin's Video Now!