The flight of US dollars from Pakistan to Afghanistan continues unabated resulting in the erosion of Islamabad's foreign exchange reserves, reported Dawn.
Breaking the trend of the fifth consecutive week of rising foreign exchange reserves, they fell by USD 571 million to USD 563.499 billion in the week that ended on December 16, Reserve Bank of India's Bulletin Weekly Statistical Supplement data showed on Friday.
India's foreign exchange reserves during the week that ended on December 9 rose by USD 2.91 billion to USD 564.07 billion. Notably, this is the fifth consecutive week of India's rising foreign exchange reserves.
Replying to a question in Lok Sabha, Sitharaman said the Reserve Bank of India has used the available foreign exchange reserves that it had in order to intervene in the markets to make sure that the Dollar-Rupee does not fluctuate too much.
Owing to the lack of foreign exchange reserves in Pakistan and a reeling economic crisis, over 400 containers of imported vegetables were stuck at various terminals of Karachi seaport, Business Recorder reported on Wednesday.
For other EMEs, the World Bank in the report said impacts from the US, euro area, and China are at least 1.5 times larger than for India. It added India's relative resilience comes from its solid economic fundamentals, significant foreign exchange reserves, available policy space and prudent
India's foreign exchange reserves during the week that ended on November 25 rose by USD 2.89 billion to USD 550.14 billion, the Reserve Bank of India data showed on Friday evening. This is the third consecutive week of rising reserves.
New Delhi [India], October 22 (ANI): India's foreign exchange reserves during the week that ended on October 14 fell to an over two-year low of USD 528.367 billion, a drop of USD 4.5 billion from the previous week.
Hong Kong, October 19 (ANI): India's external buffers appear sufficient to cushion risks associated with rapid monetary policy tightening in the US and high global commodity prices, says Fitch Ratings.