Overview
- Reserve Bank of India data show a weekly increase of $8.053 billion for the week ended January 23, taking India’s stockpile to $709.413 billion, a new peak.
- Gold valuation added about $5.635 billion and foreign currency assets rose by roughly $2.367 billion in the latest week, with SDRs and the IMF position also higher.
- Analysts and RBI commentary linked India’s recent gains to valuation effects and liquidity operations, with reserves cited as covering more than 11 months of goods imports.
- State Bank of Pakistan reported a $13 million weekly rise in central-bank reserves to $16.101 billion, with total liquid reserves at $21.293 billion including commercial banks.
- Pakistan’s recent step-ups follow receipt of SDR 914 million from the IMF, with analysts estimating roughly 2.5 months of import cover and the policy rate held at 10.5%.