Foreign exchange Reserves Surge by $32.29 Billion in Six Months: Reserve Financial institution of India

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The nation’s international trade reserves surged to USD 576.98 billion as on March 31, 2021 from USD 544.69 billion at September-end final 12 months, an RBI report stated. Overseas foreign money belongings (FCA), a significant element of the general reserves, elevated to USD 536.693 billion as at March-end 2021 from USD 502.162 billion, the report famous.

On stability of funds foundation (excluding valuation modifications), international trade reserves elevated by USD 83.9 billion throughout April-December 2020 as in contrast with USD 40.7 billion within the year-ago interval, it stated. Overseas trade reserves in nominal phrases (together with valuation modifications) elevated by USD 108 billion throughout April-December 2020 as towards USD 47 billion within the corresponding interval of 2019-20.

On the finish of December 2020, the international trade reserves cowl of imports elevated to 18.6 months from 17.1 months at September-end 2020, RBI stated in its report on administration of international trade reserves — October 2020-March 2021, launched on Wednesday. The web ahead asset (receivable) of the Reserve Financial institution within the home international trade market stood at USD 68.2 billion as at March-end 2021.

As on March 31, 2021, the Reserve Financial institution held 695.31 metric tonnes of gold. Whereas 403.01 metric tonnes of gold is held abroad in secure custody with the Financial institution of England and the Financial institution of Worldwide Settlements (BIS), 292.30 tonnes of gold is held domestically, the report stated. In worth phrases (USD), the share of gold within the whole international trade reserves decreased from about 6.69 per cent as at September-end 2020 to about 5.87 per cent as on March 31, 2021. Gold reserves stood at USD 33.88 billion at end-March 2021 as towards USD 36.429 billion by September 2020, the report stated.

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