Reserves with the State Bank of Pakistan remained only 5 billion 800 million dollars, the total reserves of the country fell below the level of 12 billion dollars.
Lahore Pakistan's official foreign exchange reserves fell below the level of 6 billion dollars for the first time after almost 9 years, the reserves with the State Bank of Pakistan remained only 5 billion 80 million dollars, the total reserves of the country fell below the level of 12 billion dollars. gone. According to the details, according to the State Bank, during a week, the reserves of the Central Bank decreased by 294 million dollars to less than 6 billion dollars and reached an alarming level of 5 billion 821.9 million dollars.
Commercial banks have 5 billion 885.3 million dollars, thus the level of reserves of the central bank is even lower than that of commercial banks. According to the spokesperson of the State Bank, the total foreign exchange reserves of the country are at the level of 11 billion 700 million dollars.
On the other hand, according to a report, since the coming of the federal government of the PDM coalition, the rapidly changing conditions have hurt the confidence of the investors. do it
While during this year, the total amount of investors has sunk more than 1 thousand billion rupees. In the middle of April this year, the 100 index of the Pakistan Stock Exchange was at the level of 46 thousand 600 points, after which the market is going towards a continuous decline. Thus, during 8 months, Pakistan Stock Exchange has suffered the worst decline of 7 thousand points. Not only the stock market but also the currency market is in crisis during the PDM regime.
When Shahbaz Sharif assumed the prime ministership in April, the price of the dollar in the interbank market was 182 rupees, which has now increased to more than 225 rupees, while the price of the dollar in the open market is more than 234 rupees. However, according to economic experts, the finance minister Ishaq Dar has artificially held down the value of the dollar, the real value of the dollar in the market is around Rs 250. Due to the huge difference in the value of the dollar in the open market and the interbank market, Pakistanis living abroad are remittances through reference handi instead of banking channels, which is the reason why the country's remittances have decreased significantly.