India’s foreign exchange (forex) reserves fell by $28.05 billion in the second half of FY12. The latest RBI data shows that the country’s reserves stood at $607.31 billion from October 2021 to March 2022.
In the first half of FY22 ending September 2021, inventory 635.36 billion dollars.
As of March 31, 2022, foreign exchange assets stood at $540.72 billion, while gold reserves stood at $42.55 billion and SDR was $18.89 billion, while RTP was $5.14 billion.
Under foreign currency assets, reserves in securities declined to $363.74 billion in H1FY22 as compared to $363.74 billion in H2FY22, while deposits with other central banks and the BIS – fell to $140.54 billion in H2 compared to $147.86 billion in H1. Deposits with commercial banks abroad fell to $37.16 billion in H2 from $42 billion in H2.
Specifically, although the US dollar and the euro are both intervention currencies and foreign currency assets (FCAs) are maintained in major currencies, foreign exchange reserves are denominated and expressed in terms of US dollars.
Further, the movement in FCAs is mainly due to changes in foreign exchange buying and selling by RBI, proceeds from deployment of foreign exchange reserves, external aid receipts from the central government and revaluation. properties.
Meanwhile, RBI’s net forward assets (receivables) in the domestic foreign exchange market stood at $65.79 billion at the end of March 2022.