India and Pakistan
Today India has become the fifth largest economy in the world. On the other hand, the neighboring country Pakistan, which was born with the independence of India, is somehow turning the wheels of its economy with the help of the loan received from the IMF. However, in an issue where India has been suffering losses for the past few weeks, Pakistan is celebrating this issue.
Here we are talking about the foreign exchange reserves of India and Pakistan. India’s foreign exchange reserves have been facing a decline over the past few weeks. During this period, Pakistan’s foreign exchange reserves have increased. However, the foreign exchange reserves of both countries cannot be compared in terms of value, because there is a lot of difference between the two.
India’s foreign exchange reserves
India’s foreign exchange reserves decreased by $3.46 billion to $684.8 billion in the week ending October 25. The Reserve Bank of India (RBI) has released the latest data in this regard. While at the end of September India’s foreign exchange reserves had reached their all-time high of $704.88 billion.
read this too
See this also:What is the special call auction? Due to which the 3 rupee stock became the most expensive stock in the country.
India’s foreign exchange reserves include currencies of different countries along with gold reserves, special drawing rights (SDRs) received by India from the IMF, Indian currency deposited in the IMF, etc. India keeps currencies of different countries in its foreign reserves, but calculates them only in dollars.
Now, in the week ending October 25, the total value of foreign currencies held by India amounted to $593.75 billion. The country’s gold reserves reached 68.52 billion dollars. At the same time, the country’s SDR remained at $18.21 billion and the reserve position at the IMF remained at $4.3 billion.
See also:Not only Mukesh’s wife, Nita Ambani has such a big empire of her own.
Pakistan is celebrating
On the other hand, Pakistan’s central bank ‘State Bank of Pakistan’ also released foreign exchange reserves data in the week of October 25. Pakistan’s foreign exchange reserve stood at $16.04 billion in the week ending October 25, as against $16.01 billion in the previous week, i.e. the week ending October 18. This means that your foreign exchange reserve has increased.
