Posted 2/10/2024, 2:10:07 AM
Pakistan Foreign Reserves Drop $173 Million as Debt Payments Erode Central Bank Holdings
- Pakistan's central bank foreign reserves dropped by $173 million to $8.044 billion due to debt payments
- Overall foreign reserves fell to $13.098 billion, including commercial banks' reserves
- Reserves fell despite a $700 million IMF inflow; outlook uncertain without further donor support
- Rupee edged higher against dollar, appreciating to 279.28 in interbank market
- Inflows from remittances and foreign investments expected to decline temporarily due to political uncertainty after elections
