Pakistan’s liquid foreign exchange reserves depleted $381 million in the week ended on November 12, 2021, according to State Bank of Pakistan (SBP).

The reserves fell below the $24 billion mark after the staggering outflows, as they stood at $23.5 billion.

The foreign reserves held by SBP stood at $16.95 billion. The net foreign reserves held by commercial banks stood at $6.605 billion.

The depleting foreign exchange reserves have continued to put pressure on the strength of the Pakistani Rupee against the Dollar. Expected inflows of the Kingdom of Saudi Arabia and the International Monetary Fund are likely to strengthen the Rupee against the Dollar.

Source: Pro Pakistani