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Foreign reserves

Pakistan’s foreign reserves plunge US$389m to $14.86 billion

KARACHI: Pakistan’s foreign reserves decreased by US$389 million to $14.86 during the week ending on July 19. According to the State Bank of Pakistan (SBP), the total liquid foreign reserves held by the country stood at US$14.86 billion. The break-up of the foreign reserves position is as follow: Foreign reserves held by the SBP: $7.61 billion Net foreign reserves held by commercial banks: $7.25 billion Total liquid foreign reserves: $14.86 The central bank said the SBP reserves plunged $389 million to…

Pakistani rupee hits record low at Rs 130

KARACHI: Pakistani rupee once again depreciated today, as US dollar strikes to Rs130 in the open market breaking all high records. It is observed that US dollar is in the state of gaining Rs0.30 further against Pakistani rupee. The latest weakening in the rupee comes after the dollar spiked to Rs129 in the open market earlier this week. The latest records of high value was earlier this week at the rate of Rs129 in the open market. ALSO READ: Pakistani rupee depreciates once more against US dollar – Rs128.40 According to…

Pakistan’s foreign reserves slumped over 4%- touches ground in the past four years

LAHORE: State Bank of Pakistan (SBP), has declared the most recent statistics of foreign reserves showing descending trend in the past four years, the reserves have fallen to the lowest level of 4.39 percent on weekly basis. According to sources, on 13th July, SBP had $9,063.6 million as foreign currency reserves, which is almost $415.9 million less comparatively to last week's amount of $9,479.5 million. The net reserves in commercial banks are around $6,618.9 million, and total liquid foreign reserves consisting of net…