Foreign exchange reserves again declined, reserves to $616.14 billion

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AHMEDABAD: A close relationship has now been established between both the stock market and foreign exchange reserves. Foreign outflows increased as foreign investors booked profits in the stock market and thus India's foreign exchange reserves declined by $2.795 billion during the week ended January 19, but Pakistan's foreign exchange reserves increased during the same week.

According to the published figures, during the week ended on January 19, the reserves decreased by 2.795 billion dollars to 616.143 billion dollars. Reserves increased by $1.634 billion in the previous week. India's foreign exchange reserves reached an all-time high of $645 billion in October 2021.

According to the weekly data, foreign currency assets decreased by 2.653 billion dollars to 545.855 billion dollars. This week gold reserves have decreased by 3.4 million dollars and the reserves are at the level of 47.212 billion dollars. India's Special Drawing Rights decreased by 8.9 crore to 18.221 billion dollars and reserves with the International Monetary Fund decreased by 1.8 crore to 4.854 billion dollars.

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