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KARACHI: The country’s foreign exchange reserves fell by $300 million during the week ended on Sept 7, announced the State Bank of Pakistan (SBP) on Thursday.
The reserves of the central bank and commercial banks have been falling for the last few weeks.
The SBP’s reserves declined by $261m while the holdings of the commercial banks by $39m during the week under review. The PTI government is struggling to improve foreign exchange reserves considering several options including borrowing from China and the International Monetary Fund.
However, the impact of low foreign exchange reserves could be seen in the currency market as the exchange rate started moving against local currency in support of US dollar.
Published in Dawn, September 14th, 2018
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Comments (9) Closed
Sep 14, 2018 09:31am
It is a problem that is not going away.
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Sep 14, 2018 11:25am
Time is ticking. I wonder what asad umar is thinking
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Sep 14, 2018 11:39am
@Zeeshandxb - he is thinking Imran Khan is a fool for asking atif miam to resign
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Sep 14, 2018 11:54am
Don't let ego stop Pakistan. First collect Saudi funds immediately. See it as Saudi paying for Pakistan army and in turn they use it when needed. It will be win-win
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Sep 14, 2018 12:06pm
International funding is the only means, but it will come with strings attached which shall be difficult to digest keeping the present scenario into consideration.
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Sep 14, 2018 12:23pm
No free meal in this world.
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Sep 14, 2018 04:53pm
asad umer must tell the nation that how the PTI will take up this issue. rupee can be further devalued if the right direction not selected.
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Sep 14, 2018 08:16pm
Saudi arabia should release funds asap
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Sep 15, 2018 12:12am
Just Waite for Few months, After that Reserve will start increasing.
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