Pakistan’s foreign exchange reserves drop to alarming level
Business
Pakistan’s foreign exchange reserves drop to alarming level
LAHORE (Web Desk) – The SBP- led foreign exchange reserves have fallen $784 million to a nearly four-year low of $6.72 billion during the week that ended on December 2.
Per the central bank’s data, the reserves were last recorded below this level during the week ended on Jan 18, 2019, when it had some $6.64 billion.
Net foreign reserves held by commercial banks now clock at at $5.867 billion which means the country’s total liquid foreign reserves stand at $12.58 billion.
Total liquid foreign held by the country stood at US$ 12.58 billion as of December 02, 2022. For details: https://t.co/WpSgomnKT3 pic.twitter.com/LylLFmoBHb
— SBP (@StateBank_Pak) December 9, 2022
