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

The country added $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 $14.6 billion accretion in the year-ago period, the Reserve Bank said today.

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

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

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

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

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

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