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Foreign Exchange Reserves Rise $34.1 Billion In June Quarter: RBI Data

The current account balance recorded a surplus of USD 6.5 billion in the first quarter of fiscal 2022 as against a surplus of USD 19.1 billion in the year-ago quarter.

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The country's foreign exchange reserves in nominal terms, including valuation effects, increased by USD 34.1 billion during the June quarter compared to USD 27.9 billion in the year-ago period, RBI data showed on Thursday. The valuation gain, reflecting the depreciation of the US dollar against major currencies and increase in gold prices, amounted to USD 2.2 billion during the April-June 2021 period. In the year-ago period, the same was at USD 8 billion. 

The Reserve Bank of India (RBI) on Wednesday released Sources of Variation in Foreign Exchange Reserves in India during April-June 2021. On a balance of payments basis, excluding valuation effects, foreign exchange reserves increased by USD 31.9 billion during the June quarter compared to the same period a year ago.

The current account balance recorded a surplus of USD 6.5 billion in the first quarter of fiscal 2022 as against a surplus of USD 19.1 billion in the year-ago quarter. The capital account surplus stood at USD 25.4 billion in the April-June period compared to a surplus of USD 0.8 billion in the same quarter of the previous fiscal, the data showed.

(PTI)