India Foreign Exchange Reserves: The country’s foreign exchange reserves declined by $2.28 billion to $640.33 billion in the week ending April 19. The Reserve Bank of India (RBI) gave this information on Friday. In the last trading week, the country’s foreign exchange reserves, after increasing for the past several weeks, had decreased by $ 5.40 billion to reach 643.16 billion. It had reached a new all-time high of $648.56 billion in the week ending April 5. According to Reserve Bank data, in the week ending April 19, foreign currency assets, considered an important part of the currency reserves, declined by $ 3.79 billion to $ 560.86 billion.
Increase in gold reserve
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. The Reserve Bank said that during the week under review, the value of gold reserves increased by $ 1.01 billion to $ 56.81 billion. The Reserve Bank said that Special Drawing Rights (SDR) declined by $ 43 million to $ 18.03 billion. According to the Reserve Bank, India’s reserve deposits with the International Monetary Fund (IMF) also declined by $2 million to $4.63 billion in the week under review.
Pakistan’s treasury also declined
State Bank of Pakistan has reported that the country’s foreign exchange reserves have declined by $74 million. The bank’s total foreign exchange reserves fell to close to $8 billion in the week ending April 19. The bank said in a statement that this decline in foreign exchange reserves was due to repayment of external debt. At the same time, the net foreign exchange reserves with commercial banks have come down to $5.3 billion. In this way, Pakistan’s total liquid foreign exchange reserves have come down to $13.3 billion.
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