According to the RBI, forex reserves increased by $58.38 billion in the first half of FY22.

The Reserve Bank of India (RBI) publishes half-yearly reports on foreign exchange risk management. The country's foreign exchange reserves increased by $58.38 billion in April-September 2021 to $635.36 billion.

In an RBI study released on Wednesday, the country's foreign exchange reserves increased by $58.38 billion in April-September 2021 to $635.36 billion.At the end of March 2021, the forex reserves were at $576.98 billion.The Reserve Bank of India (RBI) publishes half-yearly reports on foreign exchange risk management.With regard to the situation as at end-March and end-September of each year, these reports are prepared half-yearly.

According to the study, reserves increased from $576.98 billion at the end of the half-year period under review to $635.36 billion at the end of September 2021.Although the US dollar and Euro are both intervention currencies, and the Foreign Currency Assets (FCA) are maintained in major currencies, the foreign exchange reserves are denominated and expressed in US dollar terms.According to the study, major changes in the FCA occur due to the RBI's purchase and selling of foreign exchange, revenue from the mobilization of the foreign exchange reserves, Central government external assistance receipts, and changes as a result of revaluation of the assets.According to the study, $383.74 billion was invested in bonds, $147.86 billion was deposited with other central banks and the BIS, and the remaining $42 billion was deposited with commercial banks overseas as of September 2021.

The ratio of short-term debt (original maturity) to reserves, which was 17.5 percent at the end of March 2021, decreased to 16.8 percent at the end of June 2021.According to the survey, the ratio of volatile capital flows (including cumulative foreign portfolio inflows and outstanding short-term debt) to reserves dropped from 69 percent to 65 percent at the end of March 2021 to 65.5 percent at the end of June 2021.RBI had 743.84 metric tonnes of gold at the end of September 2021.Although 451.54 metric tonnes of gold are held overseas in safe custody by the Bank of England and the Bank for International Settlements (BIS), 292.30 tonnes are are held domestically, according to the study.

Foreign exchange reserves increased by $31.9 billion during April-June 2021 relative to $19.8 billion during April-June 2020 on a balance of payments basis (excluding valuation effects).According to the agency, foreign exchange reserves in nominal terms (y comprising valuation losses) increased by $34.1 billion during April-June 2021 as compared to $27.9 billion in the same period in 2020-21.RBI's net forward account (receivable) stood at $49.11 billion in the domestic foreign exchange market at the end of September 2021.There were two Purchase transactions totaling $191.29 million and one Repurchase transaction totaling $46.68 million under the IMF's Financial Transaction Plan (FTP) during the half-year under review.