Foreign exchange reserves
Bad news has been received in the third consecutive week about the treasury of India. In these consecutive weeks, more than $ 7 billion from the reserve of India, that is, more than 63 thousand crore rupees have been settled. According to experts, there is a steady decline in the rupee against the dollar. Due to which India has to spend more on importing. Due to which there is a tremendous impact on the treasury of the country. According to the latest report, this week has seen a low decline in the last two weeks from the Forex Reserve of India. There was a decline of more than $ 3-3 billion in the last two weeks. On the other hand, there has been a big decline in the Forex Reserve of Kangal Pakistan. According to the report, there has been a decline of $ 69 million from Pakistan's reserve. Let us also tell you at which level the Forex reserves of India and Pakistan have come.
The RBI said on Friday that India's foreign exchange reserves declined by $ 1.183 billion to $ 695.489 billion during the week ended July 18. In the last reporting week, the total reserves had come down by $ 3.064 billion to $ 696.672 billion. At the end of September 2024, the currency reserves touched an all -time high level of $ 704.885 billion. The special thing is that in these consecutive weeks, the Forex Reserve of India has seen a decline of more than $ 7.293 billion i.e. 63 thousand crore rupees. In fact, this decline is being seen due to the decline in the rupee. The effect of which is being seen as a decrease in dollar.
According to data released on Friday, in the week ended July 18, a major component of foreign exchange reserves, Foreign Currency Assets declined by $ 1.201 billion to $ 587.609 billion. Composed in dollars, foreign exchange assets include the impact of price growth or depreciation of non-American units such as euros, pounds and yen kept in foreign exchange reserves. However, RBI said that during the week the gold reserve increased by $ 15 million to $ 84.499 billion. RBI said that SDR declined $ 11 million to $ 18.683 billion. According to top bank data, India's reserved position in the IMF declined by $ 1.3 million to $ 4.698 billion in the week under review.
On the other hand, Pakistan's Forex Reserve has also seen a decline. According to the report of State Bank of Pakistan, due to payment of external loans, Pakistan's foreign exchange reserves kept by the central bank have decreased by US $ 69 million. According to SBP, during the week ended July 18, the bank's reserves stood at $ 14.46 billion, lower than the previous week's level. The statement said that the pure foreign exchange reserves were recorded at $ 5.46 billion with commercial banks. The central bank said that by July 18, the total liquid foreign exchange reserves of South Asian country increased to about $ 19.92 billion.
