Foreign exchange reserves: India’s foreign exchange reserves had reached an all-time high of $ 648.56 billion in the week ending April 5, 2024. The country’s foreign exchange reserves declined by $5.40 billion to $643.16 billion in the week ending April 12. The Reserve Bank of India has given this information on Friday. In the last trading week, it had increased by $ 2.88 billion and reached a new high of $ 648.56 billion. According to Reserve Bank data, in the week ending April 12, foreign currency assets, considered an important part of the currency reserves, declined by $ 65.1 million to $ 564.65 billion. Foreign currency assets denominated in dollar terms include the impact of movements in non-US currencies such as the euro, pound and yen held in foreign exchange reserves. Compared with Pakistan’s foreign exchange reserves, our reserves are about 80 times larger.
Increase in gold reserve
The Reserve Bank said that during the week under review, the value of gold reserves increased by $ 1.24 billion to $ 55.79 billion. The Reserve Bank said that Special Drawing Rights (SDR) declined by $ 93 million to $ 18.08 billion. According to the Reserve Bank, India’s reserve deposits with the International Monetary Fund (IMF) also declined by $35 million to $4.63 billion in the week under review.
Pakistan’s foreign exchange reserves increased
State Bank of Pakistan (SBP) has said that its foreign exchange reserves have increased by $14.4 million ($14.4 million). With this, Pakistan’s total foreign exchange reserves reached $8.1 billion in the week ending April 12. In that week, Pakistan also repaid $1 billion when Pakistan’s international bonds matured. India’s foreign exchange reserves are 79.40 times larger than Pakistan’s.
(With PTI inputs)
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