Pakistan’s foreign exchange reserves reach lowest level since Nov 2019

By: News Desk
Published: 11:36 PM, 16 Jun, 2022
Pakistan’s foreign exchange reserves reach lowest level since Nov 2019
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Pakistan’s foreign exchange reserves fell to their lowest levels since November 2019, reaching $14.943 billion, reported 24NewsHD TV channel.

According to data released by the State Bank of Pakistan, the total forex reserves held by the country stand at $14 billion as of June 10, a level that covers imports for 1.32 months.

Meanwhile, the total reserves that the State Bank of Pakistan (SBP) has amounted to stand at $8.985 billion — the lowest level since July 2019.

The net foreign reserves held by commercial banks are $5.957 billion.

The announcement comes as the government desperately tries to revive the stalled International Monetary Fund (IMF) programme to boost the depleting foreign exchange reserves.

Categories : Business