Money & Banking

RBI provisions Rs 2,405 cr for forex losses in forward contracts

Arvind Jayaram Chennai | Updated on October 30, 2012 Published on October 30, 2012

RBILiabilities

 

The RBI has provisioned Rs 2,405 crore in the Exchange Equalisation Account (EEA) toward exchange losses arising from forward commitments in 2012. This is a departure from previous years, when provisioning against losses was at a high of Rs 27 crore in 2009. On the other hand, balance in the Currency and Gold Revaluation Account (CGRA) has increased by 159 per cent to Rs 4.73 lakh crore as of June 30, reflecting gains in the valuation of the RBI’s foreign currency assets and gold holdings. Investments in foreign dated securities have also registered gains of Rs 12,222 crore, which is maintained in the central bank’s Investment Revaluation Account (IRA).

Published on October 30, 2012
This article is closed for comments.
Please Email the Editor