KARACHI: The country’s foreign exchange reserves have recorded a sharp decline last week.
According to a statement issued by the SBP, the decline in the country’s foreign exchange reserves continued last week and the foreign exchange reserves recorded a decline of 73 732.6 million.
According to the report, the total foreign exchange reserves reached ارب 14.21 billion in the week ended June 17.
SBP’s reserves decreased by 74 747.6 million to 8. 8.23 ​​billion, while reserves of commercial banks increased by 1. 1.50 million to 5. 5.97 billion.
Experts say that if Pakistan does not receive a loan installment from the IMF, further reduction in reserves is expected, which could further worsen the already crisis-ridden country’s economy.
For the week ended June 10, SBP’s reserves declined by 24 240 million.