India’s Reserves Rebound to $696.99 Billion on Gold Surge, Pakistan Edges Higher Before IMF Boost

Overview

• India’s foreign‑exchange stock rose by $6.295 billion to $696.988 billion in the latest RBI release.
• RBI data point to a $5.637 billion jump in the value of gold holdings and a $562 million rise in foreign‑currency assets, with Special Drawing Rights up $84 million.
• Pakistan’s central‑bank reserves increased by $17 million to $15.87 billion, with total liquid reserves at $21.34 billion and $5.47 billion held by commercial banks.
• Pakistan received about $1.3 billion from the IMF in SDRs on May 12, and the SBP says this will show up in the next weekly reserves report.
• The Pakistani rupee firmed slightly to 278.62 per dollar as local gold and silver prices ticked up, while India raised import duties on bullion to curb non‑essential imports after recent pressure on reserves.