Sehar Timings Mar 29 - Ramazan 18

Lahore
LHR
04:36 AM
Karachi
KHI
05:12 AM
Islamabad
ISB
04:38 AM
Peshawar
PWR
04:42 AM
Quetta
QTA
05:07 AM

News

SBP foreign exchange reserves plunge to dangerous level

February 2, 2023 10:20 PM


The State Bank of Pakistan (SBP)-held foreign exchange reserves plunged to dangerous levels as the cash-strapped nation desperately seeks to revive the stalled bailout programme of the International Monetary Fund (IMF), reported 24NewsHsd TV channel Thursday.

Due to foreign debt payments, the central bank said its reserves fell $592 million to $3,086.2 million during the week ended on January 27, their lowest since February 2014, and are barely enough to provide import cover for 18.5 days.

The reserves held by the commercial banks stand at $5,655.5 million, $2.6 billion higher than those of SBP, taking the total reserves of the country to $8,741.7 million, the central bank's statement mentioned.

However, the reserves of commercial banks also plunged by $119m.



Most Read

  1. Man murders young sister by smothering her with pillow in Toba Tek Singh Man murders young sister by smothering her with pillow in Toba Tek Singh
  2. Aitchison College students, parents stage protest against principal’s resignation Aitchison College students, parents stage protest against principal’s resignation
  3. Five Chinese among six killed in Shangla suicide bombing Five Chinese among six killed in Shangla suicide bombing
  4. Maaz Safder regrets 4-year relationship with wife Saba Maaz Safder regrets 4-year relationship with wife Saba
  5. Sahiba meets her father for the first time Sahiba meets her father for the first time
  6. Four terrorists killed as attack on Turbat Naval Base thwarted Four terrorists killed as attack on Turbat Naval Base thwarted

Opinion

  1. IMEC to sabotage CPEC
    IMEC to sabotage CPEC

    By Dr Asif Channer

  2. 1947 TO FORM 47
    1947 TO FORM 47

    By Dr Asif Channer

  3. Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....
    Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....

    By Ali Ramay

  4. Global race: China will reduce its unnecessary expenses
    Global race: China will reduce its unnecessary expenses

    By Ali Ramay

  5. Channer Pir: The Great Saint of Cholistan
    Channer Pir: The Great Saint of Cholistan

    By Dr Asif Channer

  6. Literate the Religious Illiterate
    Literate the Religious Illiterate

    By Dr Asif Channer