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KARACHI: Pakistan’s total liquid foreign exchange reserves amounted to $22 billion on March 17, down $223.8 million or one per cent from a week ago, the State Bank of Pakistan (SBP) said on Friday.
During the week, the SBP’s reserves decreased $278m to $16.96bn on account of external debt servicing.
Net foreign exchange reserves held by commercial banks amounted to $5bn on March 17, up 1pc from the preceding week.
Published in Dawn, March 25th, 2017
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Comments (6) Closed
Mar 25, 2017 11:14am
The Pakistani rupee must be backed by gold and secured by other stronger world currencies as a hedge against inflation. It is only paper after all.
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Mar 25, 2017 01:32pm
Bangladesh Reserves up to $33bn.
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Mar 25, 2017 02:05pm
super power pakistan..
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Mar 25, 2017 02:12pm
@vignesh jayachandran Pakistan is destined to be a super power one day!
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Mar 25, 2017 04:29pm
@Jamil maybe for one day.
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Mar 25, 2017 08:36pm
@Alba same can be said for all the currencies. Look at the dollar......it was taken off thr gold standards since the 70's. They simply keep printing it as and when needed.
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