Foreign exchange reserves rise $34.1 billion in June quarter: RBI data
- ByAyushi Ray | October 1, 2021
Foreign exchange reserves rise $34.1 billion in June quarter: RBI data. The valuation gain, reflecting the depreciation of the US dollar against major currencies and increase in gold prices, amounted to $2.2 billion during the April-June 2021 period. In the year-ago period, the same was at $8 billion. The Reserve Bank of India (RBI) on Wednesday released Sources of Variation in Foreign Exchange Reserves in India during April-June 2021. n a balance of payments basis, excluding valuation effects, foreign exchange reserves increased by $31.9 billion during the June quarter compared to the same period a year ago.
The current account balance recorded a surplus of $6.5 billion in the first quarter of fiscal 2022 as against a surplus of $19.1 billion in the year-ago quarter. The capital account surplus stood at $25.4 billion in April-June period compared to a surplus of $0.8 billion in the same quarter of the previous fiscal, the data showed.
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