India’s foreign exchange reserves: The country’s foreign reserves increased by $2.35 billion to $596.098 billion in the week ending June 16. The Reserve Bank of India (RBI) gave this information on Friday. In the previous week, the country’s total Foreign Exchange Reserves had decreased by $1.318 billion to $593.749 billion. In October 2021, the country’s foreign exchange reserves hit a record $645 billion. But the use of foreign exchange reserves to hedge the rupee amid the pressures created by world events has led to a decline in these reserves. According to weekly RBI data, foreign currency assets, a major part of foreign exchange reserves, increased by $2.578 billion to $527.651 billion in the week ending June 16.

Gold reserves decreased

Foreign currency assets denominated in dollars also include the effects of movements in non-US currencies such as the euro, pound and yen. However, the Reserve Bank said the value of gold reserves decreased by $324 million to $45.049 billion. According to the data, Special Drawing Rights (SDRs) increased by $62 million to $18.249 billion. The country’s reserves with the International Monetary Fund (IMF) rose $34 billion to $5.149 billion in the week under review, according to RBI data.

pakistan mess

Pakistan’s total foreign exchange reserves currently stand at $4.09 billion, while India’s foreign reserves increased by $2.35 billion to $596.098 billion in the week ending June 16. The Reserve Bank of India (RBI) said that prior to this, foreign exchange reserves had been declining for two consecutive weeks. In the previous week, the country’s total foreign exchange reserves had decreased by $4.34 billion to $589.14 billion.

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