The foreign reserves of Pakistan stood at $9.10 bn on September 13. They have now fallen by $190mn to a record low of $ 8.91bn in past week. This figure has been released by the State Bank of Pakistan.
The reservs held by the central bank fell to $5.52bn from $5.72n while the reserves held by commercial banks have increased marginally from $3.38bn to $3.39bn.
Foreign reserves held by the country were at a record high of $16.5bn previous year but it has depleted due to high import bill as well withdrawal of money by foreign investors because of the prevailing political uncertainly in the country.
Really tough times ahead if something is not done soon to check this situation. But unfortunately we are not seeing any serious attempts at improving the situation.
The foreign reserves of Pakistan stood at $9.10 bn on September 13. They have now fallen by $190mn to a record low of $ 8.91bn in past week. This figure has been released by the State Bank of Pakistan.
The reservs held by the central bank fell to $5.52bn from $5.72n while the reserves held by commercial banks have increased marginally from $3.38bn to $3.39bn.
Foreign reserves held by the country were at a record high of $16.5bn previous year but it has depleted due to high import bill as well withdrawal of money by foreign investors because of the prevailing political uncertainly in the country.
Really tough times ahead if something is not done soon to check this situation. But unfortunately we are not seeing any serious attempts at improving the situation.
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