FX exchange: SBP reserves fall 0.49pc to $7.73bn.

Position:State Bank of Pakistan's foreign exchange reserves
 
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The foreign exchange reserves held by the central bank decreased 0.49percent on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday.

Earlier, the reserves had spiralled downwards, falling below the $7-billion mark, which raised concern over Pakistan's ability to meet its financing requirements. However, financial assistance from the United Arab Emirates (UAE), Saudi Arabia and other friendly nations helped shore up the foreign exchange reserves.

On August 2, the foreign currency reserves held by the SBP were recorded at $7,729.1 million, down $37.9 million, compared with $7,767 million in the previous week. The decrease in reserves was due to external debt servicing and other official...

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