Pakistan foreign exchange reserves register significant decline

Pakistan foreign exchange reserves register significant decline
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ISLAMABAD – Foreign exchange reserves of State Bank of Pakistan (SBP) have registered significant decline.

As per the media report the SBP reserves dropped by US$627 million to US$8.049 billion on Thursday.

Overall Pakistan’s foreign exchange reserves reached US$14.893 billion with reserves at other banks remaining unchanged at US$6.485 billion.

According to the central bank, reserves fell due to external debt servicing and other official payments.

On September 13, Pakistan’s foreign exchange reserves had dropped by US$300 million.

As per the details, the country’s foreign exchange reserves stood around $16.070 billion, whereas, the central bank’s reserves declined $261 million to $9.624 billion.

Economy