Foreign exchange reserves crash by $2.6 bln despite financial support from friendly countries

MG News | June 28, 2019 at 11:08 AM GMT+05:00

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June 28, 2019 (MLN): The foreign exchange reserves held by State Bank of Pakistan have fallen sharply by $2.6 billion in the first 11 months of current government.

The foreign reserves stood at $7.282 billion as of June 21, 2019, as compared to $9.88 billion in August 2018.

In the same way, the total foreign exchange reserves stood at $14.35 billion as of June 21, whereas they totaled $16.391 billion in August 2018.

Ironically, the amount of reserves went down significantly in spite of the financial support worth $9.6 billion received from various friendly countries.

To recall, Pakistan had received around $4.6 billion in financial aid from China, $3 billion from Saudi Arabia and $2 billion from UAE.

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