India's import cover improved to 10.9 months at the end of March 2016, from 9.8 months at end-September 2015, as the country's foreign exchange reserves improved about $10 billion in the period, the Reserve Bank of India (RBI) said in its half-yearly report on reserves. In the same period, the ratio of short-term debt to the foreign exchange reserves, declined to 23.1 from 24.2 per cent, mainly because reserves improved from $350.3 billion to $360.18 billion.
The ratio of volatile capital flows, which includes cumulative portfolio inflows and short-term debt, to the reserves declined from 89.9 per cent to 87.1 per cent in the period.
The Reserve Bank holds 557.77 tonnes of gold; of which, 265.49 tonnes are held overseas with the Bank of England and the Bank for International Settlements.
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