India's Forex Reserves Spurt Nearly 10% In First Half Of Current Fiscal

The Reserve Bank Of India (RBI), stated in a latest update that during the first half of current fiscal, India's foreign exchange reserves increased from USD 576.98 billion as at end-March 2021 to USD 635.36 billion as at end-September 2021, marking a rise of Although both US dollar and Euro are intervention currencies and the Foreign Currency Assets (FCA) are maintained in major currencies, the foreign exchange reserves are denominated and expressed in US dollar terms. Movements in the FCA occur mainly on account of purchase and sale of foreign exchange by the RBI, income arising out of the deployment of the foreign exchange reserves, external aid receipts of the Central Government and changes on account of revaluation of the assets.

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