Mumbai: India and Pakistan, who have gained independence simultaneously in 1947, are currently looking into several issues, one of which is in the context of foreign exchange reserves.
The available data shows that Pakistan’s foreign exchange reserves are slightly more than two percent of India’s foreign exchange reserves. India’s foreign exchange reserves were $ 688 billion by the end of April this year, while Pakistan’s foreign exchange reserves were $ 15.57 billion by the end of March this year.
According to the data, India ranks fourth in 194 countries in terms of foreign exchange reserves, while Pakistan ranks 68th.
Pakistan’s status is likely to deteriorate from the perspective of foreign exchange reserves with India ending business relations with Pakistan.
India has been seeing an increase in its foreign exchange reserves since the liberalization policy adopted in 1991. In 1991, India had only two billion dollars of foreign exchange reserves, which led to a balance of balance.
Apart from the liberalization policy, the economic reforms made by various governments in India have also been responsible for the increase in reserves.
Talking about the currencies of the two countries, the dollar is priced at Rs 84.60 against the Indian rupee, while Pakistan has to pay Rs 281 to buy one dollar. Thus, India’s currency looks stronger than the dollar than Pakistan.
India is in danger of increasing economic burden on Pakistan with the decision to end the business relations with Pakistan and shut down its airspace. India’s half million dollars imports from Pakistan will stop.
