Foreign exchange reserves up to billions in FY 2020-21
The country’s foreign exchange reserves on nominal terms including valuation effects improved by USD 99.2 billion during the financial year 2020-21 correlated to USD 64.9 billion in the preceding year RBI data demonstrated
The valuation gain indicating the devaluation of the USD dollar against major currencies and increase in gold prices amounted to USD 11.9 billion during 2020 21 compared to USD 5.4 billion during 2019-20.
The Reserve Bank of India published the sources on Wednesday of variation in foreign exchange reserves in India during 2020-21.
On a balance of payments basis foreign exchange reserves improved by USD 87.3 billion during an FY 2020-21 as against a gain in USD 59.5 billion during FY 2019-20, data exhibited
The current account balance stood at USD 23.9 billion in FY 2020-21 as against a shortage of USD 24.7 billion in FY 2019-20, Capital account stood at USD 63.4 in FY 2020-21 and 84.2 billion in FY 2019-20. Foreign investment in the country stood at 80.1 million in FY 2020 21 as opposed to 44.4 billion in FY 2019-20.