Bloomberg News

India’s Foreign-Currency Assets Return Drops to 1.74 Percent

August 16, 2012

India’s foreign-currency assets and gold returned 1.74 percent in the year ended June 2011, versus 2.09 percent in the same period the previous year, the central bank said today.

The drop in rate of earnings reflected the “generally low global interest rate environment,” the Reserve Bank of India said in its report on management of foreign exchange reserves.

The central bank had invested $140.3 billion in securities as of March 31, 2012, out of the total foreign currency assets of $260 billion, according to the report. The amount invested in securities was $144.4 billion as of Sept. 20, 2011, or 52 percent of the total assets that stood at $275.7 billion.

Deposits with other central banks, Bank for International Settlements and the International Monetary Fund was $114.3 billion as of March 31, compared with $125.8 billion on Sept. 30, the central bank said.

Funds placed with commercial banks and external asset managers were $5.5 billion as of March 31. The amount was $5.48 billion as of Sept. 30, the central bank said.

To contact the reporter on this story: V. Ramakrishnan in Mumbai at rvenkatarama@bloomberg.net

To contact the editor responsible for this story: James Regan at jregan19@bloomberg.net


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus