Reserve Bank of India – Press Releases

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Earlier at this time, the Reserve Bank of India launched stability of funds (BoP) knowledge for April-June 2022 on its web site (www.rbi.org.in). On the premise of these knowledge, the sources of variation in overseas alternate reserves throughout April-June 2022 are detailed under.

Sources of Variation in Foreign Exchange Reserves: April-June 2022

During April-June 2022, there was a lower within the overseas alternate reserves, the sources of that are set out in Table 1.

Table 1: Sources of Variation in Foreign Exchange Reserves*
(US$ Billion)
Items April-June 2022 April-June 2021
I.   Current Account Balance -23.9 6.6
II.   Capital Account (internet) (a to f) 28.5 25.3
  a. Foreign Investment (i+ii) -1.0 12.0
    (i) Foreign Direct Investment (FDI) 13.6 11.6
    (ii) Portfolio Investment -14.6 0.4
       Of which:    
         Foreign Institutional Investment (FII) -14.7 0.4
         ADR/GDR 0.0 0.0
  b. Banking Capital 19.0 4.1
       Of which: NRI Deposits 0.3 2.5
  c. Short time period credit score 8.8 1.9
  d. External Assistance 1.8 0.3
  e. External Commercial Borrowings -2.9 0.6
  f. Other gadgets in capital account 2.8 6.5
III.   Valuation change -22.7 2.2
    Total (I+II+III) @
Increase in reserves (+) / Decrease in reserves (-)
-18.2 34.1
*: Based on the outdated format of BoP which can differ from the brand new format (BPM6) within the remedy of transfers beneath the present account and ADRs/ GDRs beneath portfolio funding.
@: Difference, if any, is because of rounding off.
Note: ‘Other items in capital account’ aside from ‘Errors and Omissions’ consists of SDR allocation, leads and lags in exports, funds held overseas, advances acquired pending situation of shares beneath FDI and capital receipts not included elsewhere and rupee denominated debt.

On a stability of funds foundation (i.e., excluding valuation results), nevertheless, overseas alternate reserves elevated by US$ 4.6 billion throughout April-June 2022 as in contrast with US$ 31.9 billion throughout April-June 2021. Foreign alternate reserves in nominal phrases (together with valuation results) decreased by US$ 18.2 billion throughout April-June 2022 as in opposition to a rise of US$ 34.1 billion within the corresponding interval of the previous 12 months (Table 2).

Table 2: Comparative Position of Variation in Reserves
(US$ Billion)
Items April-June 2022 April-June 2021
1 Change in Foreign Exchange Reserves
(Including Valuation Effects)
-18.2 34.1
2 Valuation Effects
[Gain (+)/Loss (-)]
-22.7 2.2
3 Change in Foreign Exchange Reserves on BoP foundation
(i.e., Excluding Valuation Effects)
4.6 31.9
Note: Increase in reserves (+)/Decrease in reserves (-).
Difference, if any, is because of rounding off.

The valuation loss, reflecting the appreciation of the US greenback in opposition to main currencies, amounted to US$ 22.7 billion throughout April-June 2022 as in opposition to a valuation achieve of US$ 2.2 billion throughout April-June 2021.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2022-2023/958

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