SBP releases a report on domestic foreign exchange reserves

ISLAMABAD: State Bank of Pakistan has released the data on domestic foreign exchange reserves.

According to the data released by the State Bank, due to the payment of foreign loans, the volume of official foreign exchange reserves decreased by $7.2 million during the last week, after which the foreign exchange reserves were $4.31 billion came to the level of $100,000.

According to the Central Bank, on May 12, the total value of foreign exchange reserves was recorded at $9.937 billion, while commercial banks have $5.62 million of reserves.

On the other hand, former Federal Minister of Finance Miftah Ismail has predicted that the foreign exchange reserves will be less than $2 billion by September this year.