KARACHI: Foreign exchange reserves of the State Bank of Pakistan fell to single-digit for the first time in the current fiscal year as it noted an outflow of $366 million during the week ended on May 27.

The central bank reported that its reserves fell to $9.723 billion at the end of the week. The country’s total reserves declined to $15.771bn while the holdings of commercial banks were $6.048bn.

Meanwhile, the local currency further gained 28 paise against the US dollar in the interbank market on Thursday. The dollar closed at the price of Rs197.59.

The dollar in the open market traded at Rs198.

Published in Dawn, June 3rd, 2022