Country Foreign exchange reserves declined $ 1.78 billion to $ 638.69 billion in the week ended February 28. The Reserve Bank of India (RBI) gave this information on Friday. Last week, the country’s foreign exchange reserves rose $ 4.76 billion to $ 640.48 billion. At the end of September 2024, the foreign exchange reserves reached an all -time high of $ 704.88 billion. According to the Reserve Bank data, a major part of the foreign exchange reserves declined by $ 49.3 million to $ 543.35 billion in the week ended February 28. 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.
Decline in gold reserves
However, the price of gold reserves declined by $ 1.30 billion to $ 73.27 billion in the week under review. Special drawing rights (SDR) rose $ 2.7 crore to $ 17.99 billion. According to the Reserve Bank of India data, India’s reserved reserves with the International Monetary Fund (IMF) declined by $ 1.2 million to $ 4.08 billion.
Pakistan’s foreign exchange reserves increase
The foreign exchange reserves with the State Bank of Pakistan have increased during the week ended February 28. It rose $ 27 million to $ 11.25 billion. At the same time, the foreign reserve present with commercial banks reached $ 4.62 billion. In this way, the total liquid foreign exchange reserves with Pakistan have reached $ 15.87 billion.
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