India's foreign exchange reserves rose by USD 4.532 billion to USD 588.780 billion on a weekly basis as of April 28, according to the Reserve Bank of India's data.
Slamming Pakistan Foreign Minister Bilawal Bhutto Zardari's comments on terrorism, he said, "Pakistan's credibility is depleting faster than even its Forex reserves," at a media briefing by the Presidency after SCO Council of Foreign Ministers.
Amidst very high inflation and extremely low forex reserves, the International Monetary Fund (IMF) bailout plan for Pakistan looks dicey, unless the country makes a strong case for debt sustainability, reported Daily Times.
According to RBI's latest data, India's foreign currency assets, the biggest component of the forex reserves, fell by USD 2.14 billion to USD 514.48 billion.
According to the weekly statistical supplement of Reserve Bank of India released on Friday evening, gold reserves of the country declined by USD 521 million to USD 46.125 billion.
During the past few months, several multinational companies have expressed dismay over institutional hurdles impacting their businesses. Most prominent among them is the excessive foreign exchange control followed by Pakistan.
According to RBI's latest data, India's foreign currency assets, the biggest component of the forex reserves, fell by USD 4.38 billion to USD 509.691 billion
In its weekly bulletin, the State Bank of Pakistan (SBP) said that its foreign exchange reserves have decreased as of the week ended March 24, which will provide an import cover of less than a month.
India's foreign exchange reserves rose sharply by USD 12.798 billion to USD 572.801 billion in the week ending March 17, according to the Reserve Bank of India's latest data.
The political drama over the arrest of former prime minister Imran Khan has given a clear idea about the priority of Pakistan's policymakers when the country is struggling with economic downfall. It appears Pakistan gets stuck in a severe political crisis as the country approaches the nation
India's foreign exchange reserves declined by about USD 2.4 billion to USD 560.003 billion in the week ending on March 10, according to the Reserve Bank of India's latest data.