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State Bank’s foreign exchange reserves fall below $11b

SAMAA | - Posted: Jun 4, 2020 | Last Updated: 1 month ago
SAMAA |
Posted: Jun 4, 2020 | Last Updated: 1 month ago
State Bank’s foreign exchange reserves fall below $11b

Photo: AFP

The State Bank of Pakistan’s foreign exchange reserves recorded a decrease of $1.70 billion in a week after the government used $1.66 billion to pay external debts, the bank said Thursday.

The reserves held by the SBP now stand at $10.36 billion, while the reserves of commercial banks have risen to $6.55 billion from $3.4 billion.

The country’s total foreign exchange reserves have fallen below $17 billion and it now stands at $16.92 billion.

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