Pakistan Foreign Exchange Reserves suffer major blow

Pakistan Foreign Exchange Reserves suffer major blow
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ISLAMABAD - Pakistan’s foreign exchange reserves suffered major decline.

Foreign Exchange Reserves declined further by $560 million during the previous week.

An announcement of State Bank of Pakistan (SBP) said that due to debt and other repayments the country’s foreign exchange reserves declined to $13.99 billion.

It said that with the fresh decline the net foreign exchange reserves held by the central bank have fell to $7.50 billion.

The foreign exchange reserves held by commercial banks stood at $6.49 billion.

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