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Business & Finance Print edition: 2023-11-03

Forex reserves down $79m

Published Updated

KARACHI: The country’s liquid foreign exchange reserves declined by $79 million to stand at $ 12.576 billion by the end of last week, the State Bank of Pakistan (SBP) reported Thursday.

During the week ended Oct 27, 2023, the SBP’s reserves increased by $ 14 million to $ 7.508 billion.

However, net forex reserves held by commercial banks fell sharply by $93 million to $ 5.068 billion by the end of last week.

Copyright Business Recorder, 2023

Comments

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Ashfaq Ahmed Nov 03, 2023 06:43am
Tough times ahead, after Palestine war, Arab money and investments are no longer coming. This is the same investor army chief was talking about. Seems like we will run in this mode for next 3 to 4 years and possibly default as well
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