India foreign exchange reserves : India's foreign exchange reserves declined by $6.48 billion to US$675.65 billion in the week ended November 8. The Reserve Bank of India (RBI) gave this information on Friday. Last week, the country's foreign exchange reserves had declined by $2.67 billion to $682.13 billion. Foreign exchange reserves, which reached an all-time high of $704.88 billion at the end of September, have been declining for the last several weeks. Despite this, India's foreign exchange reserves are 42 times larger than Pakistan's.
According to the data released by the Reserve Bank on Friday, foreign currency assets, considered an important part of the foreign exchange reserves, declined by $ 4.47 billion to US $ 585.38 billion in the week ending November 8. 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.
Gold reserves also declined
In the week under review, the value of gold reserves declined by $ 1.94 billion to US $ 67.81 billion. Special Drawing Rights (SDR) declined by $60 million to $18.16 billion. According to Reserve Bank data, India's reserves with the International Monetary Fund (IMF) declined by $14 million to $4.30 billion in the week under review.
Pakistan's currency reserves increased
Unlike India, Pakistan's foreign exchange reserves have increased in the week ending November 8. According to the weekly report released by the State Bank of Pakistan, foreign exchange reserves have increased by $ 34 million to reach $ 15.966 billion.
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