ISLAMABAD – Pakistan Foreign exchange reserves register massive decline of$723 million.
The foreign exchange reserves held by the State Bank of Pakistan plunged8.54pc to below the $8 billion mark, according to data released by thecentral bank on Thursday.
On September 27, the foreign currency reserves held by the SBP wererecorded at $7,741.6 million, down $723.7 million compared with $8,465.3million in the previous week. The decline in reserves was on account ofdebt repayments by the government, SBP added.
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The overall liquid foreign currency reserves held by the country, includingnet reserves held by banks other than the SBP, stood at $15,003.7 million.Net reserves held by banks amounted to $7,262.1 million.
