Pakistan's foreign exchange reserves plunge to lowest level since June this year
Overall reserves also dropped to its seven-month low
Karachi: The State Bank of Pakistan’s (SBP) foreign exchange reserves dropped 4.1% to their lowest level since June 25, 2021.
The reserves held by the central bank fell 4.07% on a weekly basis, according to data released by the central bank on Thursday.
The reserves were recorded at $16,254.1 million on November 19, down $691 million compared with $16,945.4 million on November 12 due to “external debt repayments.”
The overall reserves, including reserves held by banks other than the SBP, dropped to its seven-month low.
Total reserves stood at $22,773.8 million, recording a decline of $777 million, lowest since April 30, 2021.
The data further saud net reserves held by banks in the country amounted to $6,519.7 million.
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