Pakistan’s Foreign Reserves Decrease by $386 Million
Pakistan’s foreign exchange reserves depleted massively by $386 million by the week ending on January 15, 2021, according to the figures shared by the State Bank of Pakistan (SBP).
This sharp decline is said to have been caused due to external debt payments to various agencies and banks.
According to the SBP data, the liquid foreign reserves decreased to stand at $20.120 billion. The reserves maintained by the SBP stood at $13.01 billion, whereas the reserves held by commercial banks stood at $7.1 billion by January 15.
The outflow of foreign exchange in the country continued to keep the position of the Rupee under pressure against the dollar and other major currencies as well.