During 1997-98, we added $ 3 billion to our foreign currency assets despite payments of over $ 2 billion effected directly from reserves under the FCNR-A deposits scheme and repayments to the IMF.
During 1998-99 also, despite all the turbulence, we have increased our foreign currency assets marginally from $ 25,975 million as at end-March 1998 to $ 26,135 million as on September 18, 1998. We fully recognise that the uncertain international financial and economic situation poses considerable policy challenges.