Pakistan Foreign exchange reserves hit new low

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Pakistan Foreign exchange reserves hit new low

KARACHI - Foreign exchange reserves held by the central bank continues to show downward trend for the 11th consecutive week as they knock down 1.26% on a weekly basis, according to data revealed on Thursday.

The continuous downward trend elevates apprehension about Pakistan’s capability to meet up its financing necessities as the reserves have fallen very much below the $8-billion amount.

However, the government has declared the previous month that it had administer to secure a financial package of $6 billion from Saudi Arabia, but the impact of such financial aid is still awaited.