State Bank of Pakistan has released the details of foreign exchange reserves of Pakistan.
State Bank’s foreign exchange reserves have reached a 9-year low.
According to the State Bank, foreign exchange reserves declined by a total of $990 million in the week ended January 20.
Domestic foreign exchange reserves stood at 9.45 billion dollars as of January 20, State Bank reserves decreased by 920 million dollars to 3.67 billion dollars, which will be enough for only three weeks of imports.
Deposits of commercial banks decreased by $6.76 billion to $5.77 billion.
Earlier in February 2014, the level of the dollar held by the State Bank had fallen so much.