Business

State Bank reserves Drop to Massive Low $3.7 Billion

As the country’s economic crisis worsened recently, Pakistan’s foreign exchange reserves fell to $3.7 billion, the lowest level since February 2014.

According to data released by the State Bank of Pakistan, the central bank’s reserves have been steadily decreasing since the start of the current fiscal year, falling by $923 million to $3.7 billion.

According to the most recent data update, the country’s liquid foreign reserves were $9.5 billion, while commercial banks’ foreign reserves were $5.8 billion.

This paints a bleak picture of the economy as the country’s top official approaches foreign leaders and lenders in the midst of the panic.

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