"The ratio of volatile capital flows (defined to include cumulative portfolio inflows and short-term debt) to the reserves increased from 83.9 percent as at end-September 2012 to 96.1 percent as at end-March 2013", said the RBI's half yearly report on management of foreign exchange reserves.
The report further pointed out that the country's foreign exchange reserves at end-March 2013 equalled to the nation's import cover of 7.0 months, down from 7.2 months at end-September 2012.
The other external debt parameter which relates to the portion of short-term debt in the total debt too showed deterioration.
According to the RBI report, "the ratio of short-term debt to the foreign exchange reserves, which was 28.7 percent at end-September 2012, increased to 33.1 percent at end-March 2013".
The country's foreign exchange reserves, it said, stood at USD 294.8 billion as at end-September 2012.
During the half year under review, the reserves came down to USD 290.9 billion at the end of February 2013 after which it increased to USD 292.0 billion at the end-March 2013.
India's current account deficit (CAD) touched a record high of 4.7 percent of the GDP or USD 88 billion in the last fiscal.


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