India Foreign exchange reserves fell $ 1.23 billion to $ 691.49 billion in the week ended on 30 May. The Reserve Bank of India (RBI) on Friday released new figures of foreign exchange reserves. The total reserves last week rose US $ 6.99 billion to $ 692.72 billion. Foreign exchange reserves reached the $ 704.88 billion all -time high level at the end of September 2024. Today on Friday, RBI Governor Sanjay Malhotra said that foreign exchange reserves of $ 691.5 billion are sufficient to import goods worth more than 11 months and to repay about 96 percent of the outstanding foreign loans.
Gold reserve increased
According to the data, the main component foreign exchange assets of foreign exchange reserves declined by $ 19.52 million to $ 584.21 billion in the week ended on 30 May. Foreign exchange assets mentioned in terms of dollars include the effects of the decrease of non-American currencies such as euros, pounds and yen placed in foreign exchange reserves. In the week under review, the price of gold reserves increased by $ 72.3 lakh to $ 84.30 billion. The RBI said that the special withdrawal rights (SDR) decreased from $ 2 million to $ 18.57 billion. According to the central bank data, India’s reserved reserves with the International Monetary Fund (IMF) also declined by $ 60 million to $ 4.39 billion in the week ended May 30.
Pakistan’s treasury declines
Pakistan’s foreign exchange reserves have declined. Pakistan’s foreign exchange reserves fell by $ 7 million to $ 11.5 billion in the week ended on 30 May. Pakistani State Bank has given this information. Pakistan is a country trapped in a debt trap. In the last few years, the foreign exchange reserves of this country have fallen significantly.
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