India’s c. bank FX gains surge

The Indian central bank’s income from foreign exchange transactions increased by 33 per cent to 1.11 trillion rupees ($13 billion) in the fiscal year ending March, boosting its overall earnings, as per its annual report released on Thursday.

The Reserve Bank of India‘s net income increased by 27.5 per cent year-on-year to 2.69 trillion rupees. Interest income from foreign securities also surged to 970.07 billion rupees from 653.28 billion rupees in the prior year.

Attribution: Reuters
Subediting: M. S. Salama