From the financial capital of India to the Economic Capital of Pakistan, ie from Mumbai to Karachi, there is happiness on people’s faces. Everyone is seen forgetting the tariff of Trump. There is also the reason for this. Central banks of both countries have informed that the previous foreign wealth has rained. Where India’s foreign exchange reserves have seen an increase of $ 6.5 billion. This is the fourth consecutive week, when India’s foreign exchange reserves have seen an increase. On the other hand, Pakistan has seen an increase of $ 70 million. Let us also tell you how much has the foreign exchange reserves of the two countries?
Increase in forex reserve
The RBI said on Friday that India’s foreign exchange reserves increased by US $ 665.396 billion to US $ 665.396 billion during the week ended March 28. The RBI said on Friday that in the last reporting week, the total reserves rose US $ 4.529 billion to US $ 658.8 billion. This is the fourth consecutive week of increase in reserve, which recently saw a decline due to RBI intervention as well as revelization by RBI to help reduce the instability in the rupee. In the end of September 2024, the foreign exchange reserves rose to an all -time high of US $ 704.885 billion.
Gold reserve also increased
The data released on Friday suggests that for the week ended on March 28, the foreign currency assets, which is a major component of the reserves, increased by US $ 6.158 billion to US $ 565.014 billion. Foreign exchange assets expressed in terms of dollars include the effect of value growth or depreciation of non-American units such as euros, pounds and yen placed in foreign exchange reserves. The RBI said that during the week the gold reserves rose US $ 519 million to US $ 77.793 billion. The apex bank said that special drawing rights (SDR) declined by US $ 65 million to US $ 18.176 billion. According to top bank data, India’s reserved status with IMF also declined US $ 16 million in a week to US $ 4.413 billion.
Pakistan’s Forex Reserve increases
According to data released on Thursday, the foreign exchange reserves with the State Bank of Pakistan (SBP) increased by $ 70 million on a weekly basis, reaching $ 10.68 billion by 28 March. The total liquid foreign reserves with the country were $ 15.58 billion. The pure foreign reserves with commercial banks stood at $ 4.90 billion. The Central Bank did not explain the reason for the increase in the store. During the end of 28-March-2025, the SBP reserves rose US $ 70 million to US $ 10,676.3 million.