Country The foreign exchange reserves have increased by $ 1.05 billion to $ 630.61 billion in the week ended January 31. The Reserve Bank of India gave this information on Friday. Foreign exchange reserves rose $ 5.57 billion to $ 629.56 billion in the previous week. This is the second consecutive week when foreign exchange reserves have increased, otherwise it has been a decline trend for the last few weeks. The reason for this decline is believed to be the intervention in the foreign exchange market by the RBI to reduce the fluctuations in the rupee along with the re-valuation.
All time high is $ 704.88 billion
In the end of September last year, the foreign exchange reserves rose to a highest level of $ 704.88 billion. According to the data released by the Reserve Bank on Friday, the major part of the foreign exchange reserves declined by $ 20.7 million to $ 537.68 billion in the week ended January 31. 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. The price of gold reserves increased by $ 1.24 billion to $ 70.89 billion in the week under review. Special Drawing Rights (SDR) rose $ 2.9 crore to $ 17.89 billion. According to the Reserve Bank data, India’s reserved reserves with the International Monetary Fund (IMF) declined by $ 1.4 million to $ 4.14 billion in the week under review.
Pakistan’s treasury also increased
Pakistan’s foreign exchange reserves have also increased. State Bank of Pakistan’s foreign exchange reserves have increased by $ 46 million. The bank’s foreign exchange reserves reached around $ 11.4 billion in the week ended on 31 January. At the same time, the pure foreign reserves with commercial banks were $ 4.6 billion. Thus Pakistan’s total foreign exchange reserves stood at $ 16.04 billion.
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