'Foreign exchange reserves up $99.2 bn in FY 2020-21'

Foreign exchange reserves up $99.2 billion in FY 2020-21: RBI data

The current account balance stood at $23.9 billion in FY 2020-21

The Reserve Bank of India on Wednesday released the Sources of Variation in Foreign Exchange Reserves in India during 2020-21. Credit: Reuters Photo

The country's foreign exchange reserves in nominal terms, including the valuation effects, increased by $99.2 billion during the financial year 2020-21, compared to $64.9 billion in the preceding year, RBI data showed.

The valuation gain, reflecting the depreciation of the US dollar against major currencies and increase in gold prices, amounted to $11.9 billion during 2020-21, compared to $5.4 billion during 2019-20, RBI said.

The Reserve Bank of India on Wednesday released the Sources of Variation in Foreign Exchange Reserves in India during 2020-21.

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On a balance of payments basis (excluding valuation effects), foreign exchange reserves increased by $87.3 billion during FY 2020-21, as against an increase of $59.5 billion during FY 2019-20, the data showed.

The current account balance stood at $23.9 billion in FY 2020-21, as against a deficit of $24.7 billion in FY 2019-20.

Capital account stood at $63.4 billion in FY 2020-21, compared to $84.2 billion in the previous fiscal, the data showed.

Foreign investment in the country stood at $80.1 billion in FY 2020-21, as against $44.4 billion in FY 2019-20, the data showed. 

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