Indias forex reserves up by $30.3 bln in FY22: RBI

23 Jun 2022 , 04:16 PM

Indias foreign exchange reserves in nominal terms (including valuation effects) rose by $30.3 billion in 2021-22 fiscal against $99.2 billion expansion in FY2020-21, the Reserve Bank of India (RBI) data showed on Wednesday, 22 June 2022. On a balance of payments basis, excluding valuation effects, foreign exchange reserves increased by $47.5 billion during 2021-22 as compared with $87.3 billion during 2020-21. The valuation loss, reflecting the appreciation of the US dollar against major currencies, amounted to $17.2 billion during 2021-22 as against a valuation gain of $11.9 billion during 2020-21, the data showed. The current account balance recorded a deficit of $38.8 billion as against a surplus of $23.9 billion in the fiscal ended 2021. During FY22, there was a capital account surplus of $86.3 billion, compared with a surplus of $63.4 billion in FY21, the data showed. Powered by Capital Market – Live News