India received highest ever foreign inward remittances in a single year of $89,127 million in FY 2021-22

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....ndia received highest ever foreign inward remittances in a single year of $89,127 million in FY 2021-22 <br>News and Press Release<br>Dated:- 7-2-2023<br><BR>During 2021-22, India received foreign inward remittances of $89,127 million which was the highest ever inward remittances received in a single year. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written re....

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....ply to a question in Rajya Sabha today. The data for the past five years on inward remittances is as below. Year Inward Remittances (US $ million) 2017-18 69,129 2018-19 76,396 2019-20 83,195 2020-21 80,185 2021-22 89,127 Source: RBI. Giving out more information, the Minister stated that country-wise data on remittance are not compiled. However, the Minister stated, the share of m....

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....ajor countries in inward remittances to India, based on survey conducted by the RBI for 2020-21 through Authorised Dealers (ADs) banks, is as below. Country-wise Share in Inward Remittances, 2020-21 Source Country Share in Total Remittances (Per cent) United States 23.4 United Arab Emirates 18.0 United Kingdom 6.8 Singapore 5.7 Saudi Arabia 5.1 Kuwait 2.4 Oman 1.6 Qatar 1.5 Ho....

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....ng Kong 1.1 Australia 0.7 Malaysia 0.7 Canada 0.6 Germany 0.6 Italy 0.1 Philippines 0.0 Nepal 0.0 Others 31.6 Source: RBI Remittance Survey, 2021 as published in RBI Bulletin article on remittances, "Headwinds of COVID-19 and India's Inward Remittances", July 2022. The Minister further stated that the value of the Indian Rupee is market-determined and the RBI closely monitors th....

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....e foreign exchange markets and intervenes only to maintain orderly market conditions by containing excessive volatility in the exchange rate, without reference to any pre-determined target level or band.<BR> News - Press release - PIB....