foreign exchange reserves
The biggest decline in the country’s foreign exchange reserves has been seen after almost three months. A lot of efforts have been made this week by RBI to manage the rupee. So that the rupee can be kept below the level of 88. Due to which there has been a decline in the country’s foreign exchange reserves. The special thing is that at the end of August 1, there was a decline of more than 9 billion dollars in foreign exchange reserves. After that, a decline was seen at the end of this week. According to RBI data, there has been a loss of more than Rs 61 thousand crore from the country’s treasury. Let us also tell you at what level the country’s currency reserves have reached.
The Reserve Bank of India (RBI) said on Friday that in the week ending October 24, India’s foreign exchange reserves declined by $ 6.925 billion (i.e. more than Rs 61 thousand crore) to $ 695.355 billion. Last week, this reserve had increased by $ 4.496 billion to $ 702.28 billion. According to the data released on Friday, in the week of October 24, the main part of foreign exchange reserves i.e. foreign currency assets decreased by $ 3.862 billion to $ 566.548 billion. Foreign currency assets denominated in dollars include the impact of appreciation or depreciation in the value of non-US currencies such as the euro, pound and yen.
Gold reserves also declined
RBI said that this week the value of gold reserves decreased by $ 3.01 billion to $ 105.536 billion. Top Bank said that Special Drawing Rights (SDR) decreased by $ 58 million to $ 18.664 billion. At the same time, India’s reserve position in IMF increased by 6 million dollars to 4.608 billion dollars.
currency reserves of pakistan
On the other hand, the foreign exchange reserves of neighboring country Pakistan have increased. State Bank of Pakistan said on Thursday that as of October 24, Pakistan’s foreign reserves have increased by $16 million to $14.47 billion.