Pakistan Foreign Exchange Reserves suffer major blow
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.