The real reason for the dollar being expensive is that foreign exchange reserves fell by more than $ 80 million in one week

The country’s total reserves rose to $ 17 billion 385 million, government reserves amounted to 11 billion 18 million 56 million dollars, while commercial banks had deposits of 6 billion 20 million 19 million dollars.

KARACHI (Urdu point newspaper – April 02, 2020) The real reason for the dollar being expensive is that foreign exchange reserves fell by more than $ 80 million in one week, with the country’s total reserves at $ 17 billion 385 million. , Government reserves of 11 billion 18 million 56 million dollars, while commercial banks have deposits of 6 billion 20 million 19 million dollars. According to details released by the State Bank, foreign exchange reserves have fallen further and government reserves declined by $ 80 million in one week, followed by foreign exchange reserves of $ 11 billion 18 million. To the level of

According to the data, commercial banks have reserves of US $ 6 billion 20 million, and the country’s total reserves have risen to US $ 17 billion 387.75 million.

Last week, $ 44 million was paid in foreign debt and interest, the State Bank said. On the other hand, the depreciation of the foreign exchange reserves has led to a continuous increase in the value of the dollar.

Interbank dollar appreciation continued on Thursday and the US dollar rose 17 paise against the Pakistani rupee, rising from a high of Rs 166.83 to a high of 167. It is pertinent to note that the value of the dollar has been seeing a steady increase since the State Bank decided on interest rates and certain concessions to the importers. Apart from repayment of loans, investors have also withdrawn their capital in large numbers, which is why there is intense pressure on the Pakistani rupee.

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