During the week ending on December 10, 2021, Pakistan’s Liquid Foreign Reserves lost $90 million because of debt service. A report from the State Bank of Pakistan (SBP) says that the country’s Foreign Exchange Reserves fell to $18.56 billion in the week. A commercial bank had $6.4 billion in cash in the Foreign Exchange Department at the end of the week.
ALSO, READ
The Chinese Government Scholarship Program 2022-23
A report from the State Bank of Pakistan (SBP) says that the Foreign Exchange Reserves (Forex Reserve) fell to $18.56 billion this week. A commercial bank had $6.4 billion in cash in its Foreign Exchange Reserves (Forex Reserve) at the end of the week.
There will be a cushion for Foreign Exchange Reserves for the next few months thanks to the money coming in from Saudi Arabia However, the value of the Rupee against the Dollar hasn’t gone up even though Saudi Arabia gave it money.
In order to lessen the stress of Foreign Exchange Outflows, the country needs to look into other ways to build up its reserves.
