World / Pakistan State Bank of Pakistan Forex Reserves fall by 327 million Dollar

State Bank of Pakistan's Forex Reserves fall by $327mn: Pakistan is fighting on three fronts simultaneously. On the one hand, where the political upheaval continues in the country, on the other hand, the announcement of terrorist attacks by TTP has given sleepless nights to the government. Now once again the long-standing economic crisis is also troubling. In fact, the State Bank of Pakistan (SBP) has announced that its foreign exchange reserves have decreased by $327 million.

Total forex reserves now $7.49 billion

The SBP said in a statement on Thursday evening that during the week ending November 25, the total foreign exchange reserves of the Pakistani central bank had fallen to around $7.49 billion. The news agency Xinhua quoted the statement as saying that this shortfall has come due to repayment of external debt. The Pakistan central bank said that the net foreign reserves held by commercial banks stood at $5.87 billion. According to the SBP, the total liquid foreign reserves held by the South Asian country stood at around $13.37 billion.

Decreasing foreign exchange reserves

Please tell that the currency reserves of Pakistan are continuously decreasing. According to the data released in August 2022, Pakistan's foreign exchange reserves had come down to $ 7.83 billion with a big decline. This was the lowest level of foreign exchange in Pakistan after the year 2019. Even then the Central Bank of Pakistan had told that foreign exchange reserves have decreased due to increase in debt payments and lack of external financing. In the figures of August, there was a decline of $ 555 million or 6.6 percent in Pakistan's foreign reserves on a weekly basis. Pakistan's central bank data then revealed that its foreign exchange reserves had fallen to its lowest level in nearly three years at $7.83 billion.