On one hand, there has been a hat-trick of losses in India’s foreign exchange reserves. On the other hand, there is a continuous increase in Pakistan’s forex reserves. There has been a decline of 16.62 billion dollars in India’s foreign exchange reserves for three consecutive weeks. On the other hand, an increase of 18 million dollars has been seen in Pakistan’s forex reserves. According to the report, Pakistan’s forex reserve has reached a high of two and a half years. Let us also tell you what kind of figures of foreign exchange reserves have been seen from India to Pakistan.
Loss in forex reserves for the third consecutive week
The country’s foreign exchange reserves have declined by $2.16 billion to $688.27 billion in the week ending October 18. According to the information of Reserve Bank of India (RBI), the country’s foreign exchange reserves had decreased by $ 10.75 billion to $ 690.43 billion last week. This was the biggest decline in currency reserves in recent times. In the previous week, foreign exchange reserves had declined by $ 3.71 billion to $ 701.18 billion. Foreign exchange reserves had reached an all-time high of $704.89 billion at the end of September. Since then, there has been a decline of 16.62 billion dollars i.e. Rs 1.40 lakh crore in foreign exchange reserves.
Increase in gold reserves
According to the data released by the Reserve Bank of India on Friday, foreign currency assets, considered an important part of the currency reserves, declined by $ 3.87 billion to $ 598.24 billion in the week ending October 18. During this period, there has been an increase in the gold reserve. According to RBI, there has been an increase of $ 17.9 million in the value of gold reserves and the figure has increased to $ 67.44 billion. Special Drawing Rights (SDR) declined by $68 million to $18.27 billion. According to Reserve Bank data, India’s reserves with the International Monetary Fund (IMF) declined by $16 million to $4.32 billion in the week under review.
Pakistan is celebrating
On the other hand, there is a continuous increase in Pakistan’s forex reserves. Due to which an atmosphere of celebration is visible there. According to Xinhua report, last week there was an increase of 18 million dollars in the forex reserves of State Bank of Pakistan. After which the forex reserve of the Central Bank of Pakistan has crossed 11 billion dollars. On the other hand, the figure of forex reserves kept with private banks is 5 billion dollars. After which the total forex reserve is 16 billion dollars.
