India’s foreign exchange reserves: India’s foreign exchange reserves decreased by $6.48 billion to $675.65 billion in the week ending November 8. The Reserve Bank of India (RBI) gave this information on Friday. Last week, the country’s foreign exchange reserves decreased by $2.67 billion to $682.13 billion. Foreign exchange reserves, which reached an all-time high of $704.88 billion in late September, have been declining in recent weeks. Despite this, India’s foreign exchange reserves are 42 times larger than Pakistan’s.
According to data released on Friday by the Reserve Bank, foreign currency assets, considered an important part of foreign exchange reserves, decreased by $4.47 billion to $585.38 billion in the week ending May 8. November. Foreign currency assets denominated in dollars include the impact of movements in non-U.S. currencies such as the euro, pound and yen held in foreign exchange reserves.
Gold reserves also decreased
In the week analyzed, the value of gold reserves decreased by 1.94 billion dollars, to 67.81 billion dollars. Special Drawing Rights (SDR) decreased by 60 million dollars, to 18.16 billion dollars. According to Reserve Bank data, India’s reserves with the International Monetary Fund (IMF) decreased by $14 million to $4.3 billion in the week under review.
Pakistan’s foreign exchange reserves increased
Unlike India, Pakistan’s foreign exchange reserves increased in the week ending November 8. According to the weekly report released by the State Bank of Pakistan, foreign exchange reserves have increased by $34 million to reach $15,966 million.
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