India foreign exchange reserves: The country’s foreign exchange reserves fell by $ 4.8 billion to $ 670.119 billion in the week ended August 9. The Reserve Bank of India (RBI) said on Friday that it had increased by US $ 7.533 billion to an all-time high of US $ 674.919 billion at the end of the previous week. According to data released by the RBI on Friday, foreign currency assets, considered an important part of the currency reserves, fell by $ 4.079 billion to $ 587.96 billion in the week ended August 9.
Gold reserve also declined
Foreign currency assets mentioned in dollar terms include the effect of fluctuations in non-US currencies such as Euro, Pound and Yen held in foreign exchange reserves. During the week under review, the value of gold reserves fell by $860 million to $59.239 billion. Special Drawing Rights (SDRs) increased by $121 million to $18.282 billion. At the same time, India’s reserve deposit with the International Monetary Fund (IMF) increased by $18 million to $4.638 billion.
Pakistan’s currency reserves increased
The foreign exchange reserves of the State Bank of Pakistan increased by $119 million to $9.27 billion in the week ended August 9. SBP Governor Jamil Ahmed recently said that Pakistan needs $26.2 billion to pay interest on its debt in the financial year 2024. Pakistan has been under the burden of huge debt for a long time. At the same time, inflation is also very high in the country.
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