Better week for both India and Pakistan, know in which case

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New Delhi: At this time, almost all over the country is receiving good monsoon rains. Meanwhile, it seems that foreign exchange is also raining in India. That’s why its foreign exchange reserves increased by $ 1.85 billion to reach $ 595.05 billion during the week ended June 30. Earlier, during the week ending June 23, 2023, there was a sharp decline in India’s foreign exchange reserves. On the other hand, some signs of improvement have been seen in the condition of our neighboring country Pakistan. During the week ending June 30, there has been a significant increase in foreign exchange reserves there.

Dollar reserves increased in India


According to the data released by the Reserve Bank of India, during the week ending June 30, there has been an increase of $ 1.85 billion in its foreign exchange reserves. With this, its reserves have reached $593.198 billion. Earlier, during the week ended June 23, there was a decrease of $ 2.901 billion in the foreign exchange reserves. Historically, India’s foreign exchange reserves had reached an all-time high of $645 billion in October 2021.

Decrease in foreign currency assets

According to the weekly data released by the Reserve Bank, India’s foreign currency assets have decreased during the week under review. It decreased by USD 2.539 billion during the week ended June 30. Now its foreign currency asset is USD 527.979 billion. Even a week before this, it had decreased by $ 2.212 billion to $ 525.44 billion. It is noteworthy that Foreign Currency Assets (FCAs) form a significant part of the total foreign exchange reserves. Expressed in dollars, foreign currency assets also include the effects of movements in non-US currencies such as the euro, pound and yen.

Gold reserve also decreased

There has been a decrease in India’s gold reserves during the week ending 30th June. Gold reserves decreased by USD 472 million this week. Now its gold reserves have stood at USD 43.832 billion. A week before this, there was a decrease of $ 745 million in its gold reserves.

SDR also decreased

According to the Reserve Bank data, India’s Special Drawing Right or Special Drawing Rights (SDR) has also decreased in the last week. The SDR declined by USD 95 million to USD 18.239 billion during the week under review. Even before this, it had increased by $ 85 million to $ 18.334 billion. According to the Reserve Bank data, the country’s currency reserves kept with the International Monetary Fund (IMF) decreased in the week under review. It decreased by USD 118 million during the week under review. Now it has reduced to USD 5.002 billion. It had also decreased a week before this and it had decreased by $ 29 million to $ 5.12 billion.

Dollar reserves increased in Pakistan as well

Things are not going well these days in our neighboring country Pakistan. If we talk about the economic condition there, at this time the situation looks like a pauper. Nevertheless, there has been an increase in foreign exchange reserves during the week ending June 30. During the week under review, Pakistan’s foreign exchange reserves increased by $392.8 million to reach $4.46 billion. During the previous week, there was a decrease of $ 471.8 million in foreign exchange reserves and it was reduced to $ 3.53 billion.

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