Foreign exchange reserves up by USD 64.9 bn in FY20

Mumbai, Jun 30 (PTI) 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