An alarming decline in foreign exchange reserves

Karachi: Domestic foreign exchange reserves continue to decline and for the first time in history, reserves of the Central Bank have decreased to an alarming level.

According to the State Bank, during a week, the central bank’s reserves decreased by 294 million dollars to less than 6 billion dollars and reached an alarming level of 5.82 billion 19 million dollars.

Commercial banks have 5 billion 885 million dollars. Thus, the level of reserves of the central bank has decreased even more than commercial banks.

According to the spokesperson of the State Bank, the total foreign exchange reserves of the country are at the level of 11 billion 700 million dollars.