Foreign exchange reserves declines by US$41mn
On September 13, Pakistan�s foreign exchange reserves had dropped by US$300 million
KARACHI (Dunya News) – Foreign exchange reserves of State Bank of Pakistan (SBP) dropped by US$100 million to US$8.308 billion on Thursday.
Overall Pakistan’s foreign exchange reserves reached US$14.852 billion with reserves at other banks remaining unchanged at US$6.544 billion.
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.
The foreign exchange reserves held by other banks have also droped by $39 million to $6.446 billion.
On September 29, the State Bank increased the target policy rate by 100 basis points to 8.5 percent effective from October 1, 2018. The increase was implemented to further consolidate efforts required to ensure macroeconomic stability, the central bank said in a statement.
