Country India’s foreign exchange reserves declined by $3.23 billion to $654.86 billion in the week ended December 6. The Reserve Bank of India gave this information on Friday. In the previous week, the country’s foreign exchange reserves had increased by $ 1.51 billion to $ 658.09 billion. Foreign exchange reserves had reached an all-time high of $704.88 billion at the end of September. According to the data released by the Reserve Bank on Friday, foreign currency assets, considered an important part of foreign exchange reserves, declined by $ 3.23 billion to $ 565.62 billion in the week ending December 6.
Gold reserve also reduced
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. In the week under review, the value of gold reserves decreased by $ 43 million to $ 66.93 billion. Special Drawing Rights (SDR) increased by $ 25 million to $ 18.03 billion. According to Reserve Bank data, India’s reserves with the International Monetary Fund (IMF) increased by $ 12 million to $ 4.27 billion in the week under review.
Pakistan’s foreign exchange reserves increased
On the other hand, the foreign exchange reserves of Pakistan, which is neck deep in debt, have increased. Foreign exchange reserves of State Bank of Pakistan have increased by 13 million dollars. The bank said that the bank’s total foreign exchange reserves reached $12 billion in the week ended December 6. At the same time, foreign reserves held with commercial banks reached $4.6 billion. In this way, Pakistan’s total foreign exchange reserves have reached $16.6 billion.
(With inputs from PTI/Language)
