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Foreign Exchange Reserves Up USD 99.2 Bn In FY 2020-21: RBI Data

Capital account stood at USD 63.4 billion in FY 2020-21, compared to USD 84.2 billion in the previous fiscal

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The country's foreign exchange reserves in nominal terms, including the valuation effects, increased by USD 99.2 billion during the financial year 2020-21, compared to USD 64.9 billion in the preceding year, RBI data showed.

The valuation gain, reflecting the depreciation of the US dollar against major currencies and increase in gold prices, amounted to USD 11.9 billion during 2020-21, compared to USD 5.4 billion during 2019-20, RBI said.

The Reserve Bank of India on Wednesday released the Sources of Variation in Foreign Exchange Reserves in India during 2020-21.

On a balance of payments basis (excluding valuation effects), foreign exchange reserves increased by USD 87.3 billion during FY 2020-21, as against an increase of USD 59.5 billion during FY 2019-20, the data showed.

The current account balance stood at USD 23.9 billion in FY 2020-21, as against a deficit of USD 24.7 billion in FY 2019-20.

Capital account stood at USD 63.4 billion in FY 2020-21, compared to USD 84.2 billion in the previous fiscal, the data showed.

Foreign investment in the country stood at USD 80.1 billion in FY 2020-21, as against USD 44.4 billion in FY 2019-20, the data showed. 

(PTI)