India's Forex Reserves Follows Increasing Trend In First Half Of Current Fiscal Says RBI

Reserve Bank of India (RBI) published a half-yearly reports on management of foreign exchange reserves yesterday. The latest report (35th in the series) is with reference to the position as at end-September 2020. During the half-year period under review, reserves followed an increasing trend from USD 477.81 billion as at end-March 2020 to USD 544.69 billion as at end-September 2020. The foreign currency assets comprise multi-currency assets that are held in multi-asset portfolios as per the existing norms, which conform to the best international practices followed in this regard. As at end-September 2020, out of the total foreign currency assets of USD 502.16 billion, USD 370.59 billion was invested in securities, USD 124.16 billion was deposited with other central banks and the BIS and the balance USD 7.44 billion comprised deposits with commercial banks overseas.

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