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[ad_1] For the week ended April 7, the foreign currency assets rose by $4.7 billion to $514.4 billion. (File) Mumbai: India's forex reserves increased by $6.306 billion to $584.755 billion for the week ended April 7, the RBI said on Friday. In the last reporting week, the forex kitty snapped a two-week rising trend to decline by $329 million to 578.45 billion. It can be noted that in October 2021, the country's forex kitty reached an all-time high of $645 billion. The reserves have been declining as the central bank deployed the kitty to defend the rupee amid pressures caused by global developments. For the week ended April 7, the foreign currency assets, a major component of the reserves, increased by $4.74 billion to $514.431 billion, according to the Weekly Statistical Supplement released by the RBI on Friday. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the...

[ad_1] Finance Minister Ishaq Dar on Friday said that the State Bank of Pakistan (SBP) has received $700 million from the China Development Bank (CDB) in a much-needed boost to forex reserves as the country grapples with a worsening economic crisis. The finance minister took to Twitter to make the announcement. "AlhamdoLilah! Funds $700 million received today by State Bank of Pakistan from China Development Bank". In an earlier tweet, Dar had maintained that the loan would "shore up" Pakistan's foreign exchange reserves. Formalities completed and Board of China Development Bank has approved the facility of US $ 700 million for Pakistan. This amount is expected to be received this week by State Bank of Pakistan which will shore up its forex reserves! — Ishaq Dar (@MIshaqDar50) February 22, 2023 Earlier this month, the country's foreign exchange reserves slipped to the alarming level of below $3 billion for the first time in nine years, reducing...