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Pakistan’s forex reserves plunge to lowest level since Nov 2019

The government is eyeing revival of IMF programme to boost reserves

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Pakistan’s forex reserves plunge to lowest level since Nov 2019
GNN Media: Representational Photo

Karachi: Pakistan’s foreign exchange reserves dropped to their lowest levels since November 2019, reaching $14,943 million, the State Bank of Pakistan's data showed on Thursday.

Forex reserves -- stand at $14 billion as of June 10 -- can cover imports for 1.32 months.

Reserves held by the State Bank of Pakistan (SBP) are amounted $8,985 million, the lowest level since July 2019.

Foreign reserves held by the SBP stand at $8,985.3 million, net foreign reserves held by commercial banks stand at $5,957.7 million, while total liquid foreign reserves clock in at $14,943.0 million.

 

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