Foreign exchange reserves up $30.3bn in FY22, RBI data shows

The country’s foreign exchange reserves in nominal terms, including valuation effects, increased by $30.3 billion in fiscal year 2021-22 from an expansion of $99.2 billion in the year. financial year 2020-21, according to RBI data.

On a balance of payments basis, excluding valuation effects, foreign exchange reserves increased by USD 47.5 billion in 2021-22 from USD 87.3 billion in 2020-21.

The Reserve Bank of India (RBI) on Wednesday released the sources of change in India’s foreign exchange reserves in 2021-22.

The valuation loss, reflecting the appreciation of the US dollar against major currencies, was $17.2 billion in 2021-22, compared to a valuation gain of $11.9 billion in 2020-21 , according to the data.

The current account balance recorded a deficit of $38.8 billion from a surplus of $23.9 billion in fiscal year 2021.

In FY22, there was a capital account surplus of $86.3 billion, compared to a surplus of $63.4 billion in FY21, the data showed.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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