Foreign Exchange Reserves Up US$ 99.2 Billion in FY 2020-21: RBI Data
- IBEF
- July 1, 2021
As per the data published by the Reserve Bank of India (RBI), India’s foreign exchange reserves increased by US$ 99.2 billion in FY21, as compared to US$ 64.9 billion in FY20. The gain in the valuation, indicates the depreciation of the US dollar compared to major currencies and rise in gold prices, at US$ 11.9 billion in FY21, as compared to US$ 5.4 billion in FY20.
On Wednesday, the RBI published the Sources of Variation in India’s Foreign Exchange Reserves for FY21. On a balance of payments basis (apart from valuation impacts), the foreign exchange reserves increased by US$ 87.3 billion in FY21, as compared to an increase of US$ 59.5 billion in FY20.
In FY21, the current account balance stood at US$ 23.9 billion, as compared to a deficit of US$ 24.7 billion in FY20. As per the data, in FY21, capital account stood at US$ 63.4 billion, as compared to US$ 84.2 billion in FY20.
As per the data, in FY21, India recorded foreign investments worth US$ 80.1 billion, as compared to US$ 44.4 billion in FY20.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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