New Delhi
India got a big relief on the foreign exchange reserves front during the week ending November 29, 2024. This week, Indian foreign exchange reserves saw an increase of $1.51 billion. Before this, it was decreasing for eight consecutive weeks. On the other hand, the foreign exchange reserves of our neighboring country Pakistan have been increasing for eight consecutive weeks.
Got relief after eight weeks
According to data released from the Reserve Bank of India, India’s foreign exchange reserves have increased by $1.51 billion during the week ending November 29, 2024. With this, its foreign exchange reserves have now increased to $658.091 billion. Earlier, India’s foreign exchange reserves had been continuously declining for eight consecutive weeks. Although there has been an increase in the reserves last week, our reserves are still at the lowest level in five months. During the week ending September 27 this year, its foreign exchange reserves were at a record high of $704.885 billion.
Increase in foreign currency assets
According to the weekly data released by the Reserve Bank, India’s foreign currency assets have also increased during the week under review. Its Foreign Currency Assets (FCAs) have increased by $2.061 Billion during the week ending 29 November 2024. Now its FCA reserves have increased to USD 568.852 Billion. It is noteworthy that foreign currency assets or Foreign Currency Assets (FCA) constitute an important part of the total foreign exchange reserves of the country. Expressed in dollars, foreign currency assets also take into account the effects of movements in non-US currencies such as the euro, pound and yen.
gold reserves decreased
The country’s foreign exchange reserves may have increased last week, but its gold reserves have decreased. According to the Reserve Bank, India’s gold reserves have decreased by $595 million during the week ending November 29, 2024. With this, its gold reserves have now reduced to USD 66.979 Billion.
increase in sdr
According to Reserve Bank data, India’s Special Drawing Rights or Special Drawing Rights (SDR) have increased last week. SDR has increased by $ 22 million during the week under review. Now it has increased to $18.007 billion. This week, the country’s reserve currency reserves kept with the International Monetary Fund (IMF) have also increased. This week it has increased by $22 million. Now it has increased to $ 4.254 Billion.
Pakistan’s reserves increased again
These days our neighboring country, Pakistan, is facing severe shortage of foreign exchange reserves. Even then the foreign exchange reserves there increased last week. This is the eighth consecutive week when foreign exchange reserves there have increased. According to the Central Bank of Pakistan, its foreign exchange reserves have increased by $ 546.8 million during the week ending November 29, 2024. Now the foreign exchange reserves there have reached 16.076 million dollars.
