Here’s how much India earned in foreign exchange through tourism in 2017

The estimates of monthly Foreign Exchange Earnings (FEEs) through tourism in India, both in rupee and dollar terms, are based on the credit data of travel head from balance of payments of RBI.

Written by FE News Desk

January 17, 2018 18:05 IST

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In this spirit, I was looking at a chart of the dollar index (DXY), which fell from a high of 103.3 at the start of 2017 to 91.1 in September, after which it bounced up a bit and has been hovering sideways since. (Reuters)

Ministry of Tourism earned Rs 1,80,379 in foreign exchange through tourism in 2017. The estimates of monthly Foreign Exchange Earnings (FEEs) through tourism in India, both in rupee and dollar terms, are based on the credit data of travel head from balance of payments of RBI. FEEs during 2017 were Rs 1,80,379 crore with a growth of 17 percent over 2016. The highlights of the estimates of FEEs from tourism in India for December 2017 and Jan-Dec 2017 are as below:

Foreign Exchange Earnings (FEEs) through Tourism (in Rs terms)

FEEs during the month of December 2017 were Rs. 19,514 crore as compared to Rs. 16,558 crore in December 2016 and Rs. 14,152 crore in December 2015. The growth rate in FEEs in rupee terms in December 2017 over December 2016 has increased to 17.9 percent, compared to 17 percent in December 2016 over December 2015. FEEs during 2017 were Rs. 1,80,379 crore with a growth of 17 percent over 2016. Whereas, the FEEs during 2016 were Rs.1,54,146 crore with a growth of 14 percent over 2015.

Foreign Exchange Earnings (FEEs) through Tourism (in $ terms)

FEEs in $ terms during the month of December 2017 were $3.038 billion as compared to FEEs of $2.439 billion during the month of December 2016 and $2.126 billion in December 2015. The growth rate in FEEs in $ terms in December 2017 over December 2016 has increased to 24.6 percent compared to the growth of 14.7 percent in December 2016 over December 2015. FEEs during 2017 were $27.693 billion with a growth of 20.8 percent over 2016. Whereas, the FEEs during 2016 were $22.923 billion with a growth of 8.8 percent over 2015.

Foreign Exchange reserves, once again, crossed the $400 billion mark after slightly falling over the past five weeks, data from the Reserve Bank of India show. On September 8, the Forex Reserves had touched the new-high for the first time at $400.727; this time it touched $400.742 billion. The rise in India’s Forex Reserves was lauded by both Moody’s and S&P recently while evaluating the credit rating of the country, even as the US treasury frowned at the record stock.

This article was first uploaded on January seventeen, twenty eighteen, at five minutes past six in the evening.