The foreign exchange reserves held by the central bank decreased by $81 million on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday.
On August 25, the foreign currency reserves held by the SBP were recorded at $7.849 billion, down $81 million compared to $7.930 billion on August 18.
Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $ 13.171 billion, down $77 million over the previous week. The net reserves held by banks stood at $5.322 billion, registering an increase of $4 million during the week.
The decline on a weekly basis is the fifth in the last six weeks. The reserves held by the central bank have fallen by $878 million since July 14 when reserves stood at $8.727 billion.
IMF money came and went away. However, our situation became worse from bad. I don’t know where are we heading. There is no social welfare in this country. No education, no health not even safety.