Pakistan’s foreign exchange reserves decline to $10.4877 billion

Country’s foreign exchange reserves have further plunged by some 240.7 million dollars during the last week. State bank of Pakistan on Thursday informed that country’s foreign reserves have declined to 10.4877 billion dollars during the week ended July 26, as against the 10.7284 billion dollars a week earlier.

The reserves held by SBP have declined by 329.5 million dollars to 7.4483 billion dollars during a week, previously stood at 7.7778 billion dollars on July 19, 2008. However, reserves held by banks show an upward trend during the last week as banks’ overall foreign reserves reached 3.0394 billion dollars compared to some 2.9506 billion dollars a week earlier, depicting an increase of 88.8 million dollars.

Courtesy: Business Recorder, 1/8/2008



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