Foreign reserves held by SBP are continuously declining on weekly basis.
Foreign reserves as on dated July 15, were stood on $9,328.6 million, whereas, as per data shared by SBP recently, foreign reserves are standing at $8,575.16 on July 22.
As per SBP, the external debt and other payments are the reason of its rapid declining.
However, if we look towards the overall liquid foreign currency, including all the net reserves held by banks other than SBP, stood at $14,414.6 million. Whereas, net reserves are $5,839.5 million.
As per the analyst of emerging markets, Emre Akcakmak accentuate that foreign reserves held by SBP would decline more by the end of July 22.
He further forewarned, reserves would be $6.3 billion, if country doesn’t got Chinese loan.
Having his Twitter handle, Emre said that it’s rapidly decreasing Pakistani rupee and the pace is not slowing down.
