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  1. Forex reserves on BoP basis jump by $11.4 billion in Q1

Forex reserves on BoP basis jump by $11.4 billion in Q1

The forex reserves on the balance of payment basis rose by $11.4 billion in the April-June quarter of fiscal 2018, compared to $7 billion in the year-ago quarter, according to the RBI data.

By: | Mumbai | Published: September 15, 2017 7:53 PM
Forex, Forex reserves, Forex reserves on BoP, BoP basis, Forex reserves jump There was a decline in capital account balance by .3 billion against the fall of ##IMG-CONTENT##.4 billion year ago. Capital account increased by .7 billion in the first quarter compared to .4 billion. (Image: Reuters)

The forex reserves on the balance of payment basis rose by $11.4 billion in the April-June quarter of fiscal 2018, compared to $7 billion in the year-ago quarter, according to the RBI data. On nominal terms, the foreign exchange reserves increased by $16.6 billion during the first quarter against increase of $3.3 billion during the same period last year. There was a decline in capital account balance by $14.3 billion against the fall of $0.4 billion year ago. Capital account increased by $25.7 billion in the first quarter compared to $7.4 billion.

Foreign direct investment surged by $7.2 billion in the reporting period from $3.9 billion in the same period last year, RBI data showed. Foreign institutional investment flows increased by $11.9 billion in the first quarter from $1.2 billion in the same period last year. External commercial borrowing declined by $0.3 billion in the quarter from $2 billion in the same period last year, the data showed.

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