The foreign exchange ( forex ) reserves reached $ 576.98 billion from March 31, 2021 from $ 544.69 billion at the end of September last year, the RBI reported. Foreign exchange assets (FCA), which is a major component of the reserves, have risen to $ 536.693 billion since March-end 2021 from $ 502.162 billion, the report said.
On the basis of payments (excluding price changes), foreign reserves increased by $ 83.9 billion in April-December 2020 compared to $ 40.7 billion last year, it said. Foreign investment in terms of policies (including price changes) increased by $ 108 billion in April-December 2020 compared to $ 47 billion in the same period 2019-20.
Also read : Apollo Tyres reports a fourfold increase in total profit at Rs 289 cr in Q4
At the end of December 2020, foreign exchange reserves rose to 18.6 months from 17.1 months in September – towards the end of 2020, the RBI said in its report on foreign trade management – October 2020-March 2021, released on Wednesday. The Reserve Bank’s net forward assets acquired in the foreign exchange market stand at $ 68.2 billion from March-end 2021.
As of March 31, 2021, the Reserve Bank has seized 695.31 tons of gold. While 403.01 tonnes of gold was stored overseas in secure storage by the Bank of England and the Bank of International Settlements (BIS), 292.30 tonnes of gold was held at home, the report said.
In value terms ($), the share of gold in the reserve foreign exchange rate fell from about 6.69 percent from September-end of 2020 to about 5.87 percent as of March 31, 2021. Gold reserves stood at $ 33.88 billion at the end- March 2021 compared to $ 36.429 billion by September 2020, the report said.
Also read : Wall Street declined as inflation prices strengthened the betting rate
