India’s foreign exchange reserves have increased more than Pakistan’s total forex reserves in a week
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According to the RBI’s weekly data, foreign currency assets, a major part of foreign exchange reserves, rose by $5.27 billion to $526.201 billion in the week ended June 2. Foreign currency assets expressed in dollars also include the effects of movements in non-US currencies such as the euro, pound and yen. The Reserve Bank said that the value of gold reserves increased by $ 655 million to $ 45.557 billion. The SDR declined by $6 million to $18.186 billion, according to the data. In the week under review, the country’s currency reserves with the International Monetary Fund (IMF) increased by $ 10 million to $ 5.123 billion.
Pakistan’s foreign exchange reserves
Meanwhile, Pakistan’s foreign exchange reserves, which are facing economic crisis, decreased by $ 179 million to $ 3.9 billion in the week ended June 2. According to the State Bank of Pakistan, the country’s forex reserve has decreased due to the payment of external debt. This is not enough even for one month’s imports. Pakistan’s commercial banks have net foreign reserves of $5.4 billion. In this way, the total liquid foreign reserve with Pakistan has remained $ 9.3 billion. Inflation has reached its peak in Pakistan and it is not getting loans from abroad.
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