Karachi: Pakistan’s foreign exchange reserves held by the State Bank of Pakistan (SBP) fell 4.07 percent again, in line with the dominant trend in recent weeks.
On September 23, foreign exchange reserves held by SBP were $8,005.9 million, down $341 million compared to $8,346.4 on September 16, data released by SBP released Thursday.
Total liquid foreign exchange reserves held by the country This includes net reserves held by banks other than SBP of $13.761.9 million.
Net reserves held by banks amounted to $5,756 million. The central bank cited external debt settlements as the main reason behind the decline.
with the current status of foreign exchange reserves Pakistan has less than two months of imports.
Crisis reserves have put serious pressure on the Pakistani rupee. The local unit turned out to be the worst currency this month.
Rupee Value Rises as Ishaq Dar Takes Over as New Finance Minister This was a development that helped the currency market recover.
The rupee is at a fresh historical low. However, Dar’s arrival has given the market some much-needed clarity.
The Pakistani rupee strengthened for the fifth time in a row on Thursday and closed at 229.62.
