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INDIA

Exchange rates and


Balance of Payments
Analysis
India Group

November 2013

Balance of Payments
Year

Current Account

Capital Account

Monetary
Movements

2000-01

-2666

8,534

-5868

2001-02

3400

8,357

-11757

2002-03

6345

10,640

-16985

2003-04

14083

17,338

-31421

2004-05

-2470

28,629

-26159

2005-06

-9902

24,954

-15052

2006-07

-9565

46,171

-36606

2007-08

-15738

107,902

-92164

2008-09

-27917

7,836

20080

2009-10

-38180

51,621

-13441

2010-11

-48053

61,104

-13050

2011-12

-78155

65,323

12831

2012-13

-88163

91,989

-3826

(US$ million)

Balance of Payments Evolution


100,000

50,000
0
-50,000

the current account is in deficit because


imports are greater than exports. This
difference can not be reached with the
addition of compensating balances of
income and transfers.

-100,000

Current Account

Capital Account

Monetary Movements
(US$ million)

Current Account
Year

Merch:
Exports
(FOB)

Merch:I
mports
(CIF)

Trade
Balance

Services

Transfers

Income

Current
Account

2000-01

45,452

57,912

-12,460

1692

13106

-5004

-2,666

2001-02

44,703

56,277

-11,574

3324

15856

-4206

3,400

2002-03

53,774

64,464

-10,690

3643

16838

-3446

6,345

2003-04

66,285

80,003

-13,718

10144

22162

-4505

14,083

2004-05

85,206

118,908

-33,702

15426

20785

-4979

-2,470

2005-06

105,152

157,056

-51,904

23170

24687

-5855

-9,902

2006-07

128,888

190,670

-61,782

29469

30079

-7331

-9,565

2007-08

166,163

257,630

-91,468

38853

41945

-5068

-15,738

2008-09

189,001

308,521

-119,521

53916

44798

-7110

-27,917

2009-10

182,441

300,645

-118,204

36014

52046

-8038

-38,180

2010-11

256,159

383,481

-127,322

44081

53140

-17952

-48,053

2011-12

309,774

499,533

-189,759

64098

63494

-15988

-78,155

2012-13

306,581

502,237

-195,656

64915

64034

-21455

-88,163

(US$ million)

Current Account Evolution


100,000
50,000

0
-50,000
-100,000
-150,000
-200,000
-250,000

Trade Balance

Services

Transfers

Income
(US$ million)

Capital Account
Year

Foreign
Investment

External
assistance

Commercia
l borrowings

Rupee debt
service

NRI
deposits

Other
capital

Capital
Account

2000-01

6,791

427

4,308

-617

2,316

-4,691

8,534

2001-02

8,146

1,204

-1,588

-519

2,754

-1,640

8,357

2002-03

6,015

-3,096

-1,701

-474

2,978

6,918

10,640

2003-04

15,678

-2,754

-2,928

-376

3,642

4,076

17,338

2004-05

15,298

2,027

5,426

-417

-964

7,259

28,629

2005-06

21,395

1,766

2,759

-572

2,789

-3,183

24,954

2006-07

29,743

1,787

16,443

-162

4,321

-5,961

46,171

2007-08

62,000

2,118

22,641

-121

179

21,088

107,902

2008-09

27,882

2,785

6,648

-101

4,291

-33,673

7,836

2009-10

65,483

3,261

2,531

-97

2,924

-22,479

51,621

2010-11

60,500

4,967

11,832

-68

3,238

-19,366

61,104

2011-12

50,361

2,452

9,140

-79

11,918

-8,469

65,323

2012-13

54,723

1,268

8,582

-58

14,842

12,632

91,989

(US$ million)

Capital Account Evolution


80,000
60,000
40,000
20,000
0
-20,000
-40,000

Foreign Investment

External assistance

Commercial borrowings

Rupee debt service

NRI deposits

Other capital
(US$ million)

Evolution of the Exchange Rate


90
80
70

60
50
40
30

08-1998

08-2000

08-2002

08-2004

08-2006

US Dollar

08-2008

08-2010

08-2012

Euro
(Rupees per unit of foreign currency)