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

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

0:00

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.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	128,199.43 336.91M	2.05% 2572.11
ALLSHR	79,787.62 1,023.63M	1.53% 1202.91
KSE30	39,105.00 121.90M	2.49% 951.21
KMI30	186,915.61 131.16M	1.10% 2029.11
KMIALLSHR	54,201.88 553.60M	0.81% 438.07
BKTi	33,476.68 51.49M	4.87% 1555.00
OGTi	27,962.58 9.77M	0.68% 188.60

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	105,920.00	106,200.00 105,440.00	170.00 0.16%
BRENT CRUDE	67.12	67.29 67.06	0.01 0.01%
RICHARDS BAY COAL MONTHLY	97.50	97.50 97.50	0.70 0.72%
ROTTERDAM COAL MONTHLY	103.80	103.80 103.80	-3.45 -3.22%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	65.41	65.65 65.34	-0.04 -0.06%
SUGAR #11 WORLD	15.70	16.21 15.55	-0.50 -3.09%