India’s foreign exchange reserves up $30.3 bn in FY22: RBI

The country's 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, RBI data showed.

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 Reserve Bank of India (RBI) on Wednesday released Sources of Variation in Foreign Exchange Reserves in India during 2021-22.

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 to a surplus of $63.4 billion in FY21, the data showed.