India Forex Reserves: The country's foreign exchange reserves have been declining continuously for the last few weeks. In the week that ended on November 1, the country's foreign exchange reserves saw a decline for the fifth consecutive week. This time it has fallen by 2.67 billion dollars to 682.13 billion US dollars. According to the information given by the Reserve Bank of India (RBI), last week the country's foreign exchange reserves fell by 3.46 billion dollars to 684.80 billion dollars.
The figure came down from the all-time high of September.
In the last week of September, the country's forex reserves were at an all-time high of $704.88 billion. According to data released by the RBI on Friday, in the week ended November 1, foreign currency assets, which are considered an important part of the foreign exchange reserves, fell by $3.90 billion to $589.84 billion. Foreign currency assets mentioned in dollar terms include the effect of fluctuations in non-US currencies such as the euro, pound, and yen kept in the foreign exchange reserves.
Increase in the value of gold reserve
: During the week under review, the value of the gold reserve increased by 1.22 billion dollars to 69.75 billion US dollars. Special Drawing Rights (SDR) decreased by 1 million dollars to 18.21 billion dollars. According to the Reserve Bank data, the country's reserve with the IMF decreased by 4 million dollars to 4.32 billion dollars during the week under review.
Pakistan's foreign exchange reserves increased.
On the other hand, Pakistan's foreign exchange reserves are continuously increasing. State Bank of Pakistan (SBP) Governor Jamil Ahmed has said that despite repaying external loans, the country's foreign exchange reserves are getting stronger. He said that it is expected to reach 12 billion dollars by the end of the month. During the week ending on October 18, the bank's foreign exchange reserves crossed 11 billion dollars. Apart from 12 billion dollars, Pakistan has foreign exchange reserves held by commercial banks of about 5 billion dollars.
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