Another bad news has come out regarding India's economy. The country's foreign exchange reserves have decreased for the fourth consecutive week. Due to which the country's forex has come to its lowest level in 8 months. In these 4 weeks, there has been a decline of about 18 billion dollars in foreign exchange reserves. Whereas last week there was a decline of more than 4 billion dollars in India's Forex. On the other hand, there is a continuous increase in Pakistan's forex reserves. The forex reserve of State Bank of Pakistan has reached more than 16.400 billion dollars. Let us also tell you what kind of figures of foreign exchange reserves have been presented by the central banks of India and Pakistan.
According to Reserve Bank of India data, the country's foreign exchange reserves decreased by $ 4.11 billion to $ 640.28 billion in the week ending December 27. In the previous week, the country's foreign exchange reserves had declined by $8.48 billion to $644.39 billion. Foreign exchange reserves have been declining for the last few weeks. The reason for this decline is being considered to be RBI's intervention in the foreign exchange market as well as valuation to reduce the fluctuations in the rupee.
There has been a decline in foreign exchange reserves for 4 consecutive weeks. During this period, there has been a decline of 17.81 billion dollars in India's foreign exchange reserves. After which India's foreign exchange reserves have reached the lowest level of 8 months. At the end of September, foreign exchange reserves had increased to an all-time high of US $ 704.88 billion. Since then till now it has seen a decline of 64.6 billion dollars.
According to data released on Friday, foreign currency assets, a major part of foreign exchange reserves, declined by $ 4.64 billion to $ 551.92 billion in the week ending December 27. Foreign currency assets denominated in dollar terms include the impact of movements in non-US currencies such as the euro, pound and yen held in foreign exchange reserves. In the week under review, the value of gold reserves increased by $ 541 million to $ 66.27 billion. SDR decreased by $ 12 million to $ 17.87 billion. According to Reserve Bank data, there has been no change in India's reserves with the IMF during this period at $ 4.22 billion.
On the other hand, there has been an increase in Pakistan's forex reserves. According to the data, State Bank of Pakistan said that Pakistan's total liquid foreign exchange reserves increased by $ 37.2 million to reach $ 16.409 billion by December 27, 2024, while it was $ 16.370 billion on December 20, 2024. SBP's reserves saw a decline of $143 million to $11.711 billion at the end of last week due to external debt payments. On the other hand, net foreign exchange reserves held by commercial banks increased by $180 million to reach $4.698 billion, indicating a positive change in the financial sector.
