Net forex reserves increase by $14.2 billion in Apr-Dec period

Mumbai: The country added USD 14.2 billion in foreign exchange reserves on the balance of payment basis during the first nine months of the outgoing financial year, which is marginally down from USD 14.6 billion accretion in the year-ago period, the Reserve Bank said on Thursday.

In nominal terms, forex reserves decreased to USD 1.3 billion during reporting period against an increase of USD 8.7 billion a year ago.

In the April-December period, current account balance decreased to USD 11.6 billion, while in the year-ago period it had stood at USD 21.8 billion.

Capital account rose to USD 25.9 billion in the first nine months of the current financial year, while the same had risen to USD 36.4 billion in the year ago period.

Foreign direct investment rose to USD 30.6 billion compared to an increase of USD 27.2 billion a year ago.

Foreign institutional investment decreased to USD 3.4 billion in the first nine months against a fall of USD 3.2 billion last year.

External commercial borrowing decreased to USD 5.2 billion in the reporting period compared to a decrease of USD 2.2 billion in the year ago period.