By Admin 
India Forex Reserves: India’s foreign exchange reserves have increased by $ 1.48 billion to $ 695.10 billion in the week ended on August 15. It had increased by $ 4.74 billion in the last week and reached $ 693.61 billion.
The largest part of the foreign exchange reserves i.e. Forex assets rose $ 1.92 billion to $ 585.90 billion this week. It also includes the effect of fluctuations of non-American currencies like euro, pounds and yen.
The country’s treasure filled
At the same time, the gold reserves have come down by $ 49.3 million to $ 85.66 billion. Apart from this, the Special Drawing Rights (SDR) increased by $ 4.1 million to $ 18.78 billion and India’s reserved reserves with the International Monetary Fund (IMF) have increased by $ 1.5 million to $ 4.75 billion.
What is the condition of Pakistan
On the other hand, in Pakistan too, there has been a mild improvement in foreign exchange reserves. State Bank of Pakistan’s holding has increased by $ 1.3 million to $ 14.256 billion in the week ended on August 15.
According to the data released by Pakistan’s Central Bank, the foreign exchange reserves i.e. Forex Reserve has reached $ 19.571 billion. Commercial banks share it worth about $ 5.315 billion. According to Ketred Securities, Pakistan’s total foreign exchange reserves are $ 19.6 billion, which is sufficient to cover 2.32 months of imports.
What is foreign exchange reserves?
Significantly, the foreign exchange reserves of any country are that which is a collection of foreign currencies such as dollars, euros as well as gold or other assets kept by the Central Bank or Monetry Authority of one country. The main objective of the foreign exchange reserves is to keep the rupee -like currency stable or to protect it from falling as well as to pay in international trade and to complete the balance of payments with the economic crisis, to complete the balance deficit.
Also read: Strong activities of private sector, service sector growth reached all time high in August