Foreign exchange reserves up by USD 64.9 bn in FY20

The country's foreign exchange reserves in nominal terms increased by USD 64.9 billion in FY20 compared to a reduction of USD 11.7 billion in FY19, according to RBI. On a balance of payments basis (excluding valuation effects), foreign exchange reserves surged by USD 59.5 billion during FY20 as against a decrease of USD 3.3 billion during FY19.

The country's foreign exchange reserves in nominal terms increased by USD 64.9 billion in FY20 compared to a reduction of USD 11.7 billion in FY19, according to RBI. This increase in reserves includes the valuation effects, the Reserve Bank of India said in a release.

"Foreign exchange reserves in nominal terms (including the valuation effects) increased by USD 64.9 billion during 2019-20 as against a decline of USD 11.7 billion in the preceding year,” it said.      The valuation gain, reflecting increase in gold prices, amounted to USD 5.4 billion during 2019-20 as against a loss of USD 8.3 billion during 2018-19.       On a balance of payments basis (excluding valuation effects), foreign exchange reserves surged by USD 59.5 billion during FY20 as against a decrease of USD 3.3 billion during FY19.     The country's current account balance (CAB) declined to USD 24.7 billion in FY20 as against a deficit of USD 57.3 in FY19. Net FDI inflows at USD 43 billion in 2019-20 were higher than USD 30.7 billion in 2018-19, the RBI said. PTI HV MKJ MKJ