KARACHI: According to the Pakistani news channel, on Thursday The State Bank of Pakistan has announced that the foreign exchange reserves decrease by $63million of the country. A spokesperson of SBP revealed a substantial slope in the foreign exchange reserves which have now been reduced to $ 14.82 billion.
FOREIGN EXCHANGE RESERVES DECREASE
The State Bank of Pakistan reserves has observed a decline of $ 552 million, bringing the total SBP reserves to $ 7.8 billion; added the spokesperson. He further said that the banking sector overall is facing a shortfall of $ 7.8 million amounting to $ 7.1 billion in leftovers.
The Pakistani rupee reached a new all-time low against the US dollar in the inter-bank market, reported earlier in the day. The worth of Pakistani rupee slid down by Rs0.54 against the greenback. Before the announcement of the federal Budget 2019-20 on Tuesday, the dollar had touched Rs151.95 in the inter-bank market.