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Pakistan’s foreign exchange reserves dip to lowest level

Pakistan’s foreign exchange reserves dip to lowest level
August 16, 2017
KARACHI (92 News) – Pakistan’s foreign exchange reserves are falling down speedily, posing questions over the competency of economic managers of the country. Pakistan’s Foreign exchange reserves have hit lowest. The country’s foreign exchange reserves have been declining consistently and State Bank of Pakistan’s (SBP) statistics show that country’s foreign reserves have further plunged during the last week. The foreign exchange reserves which were primarily built up through inflows and loans, reached an all-time low level of $14.4 billion. The tall claims of former prime minister Nawaz Sharif and Finance Minister Ishaq Dar regarding the foreign exchange reserves have exposed. Economists are terming the declining exchange reserves as another setback for the economy, apprehending that the reserve would further dip. Sources said that the current reserves can only be used for loan installment payments, defense purchasing.