A significant withdrawal of dollars from foreign currency accounts in banks has led to a notable decrease in the country’s overall dollar reserves.
Over the past week, bank deposits have seen a reduction of $200.67 million, bringing the total down to $5.22 billion.
This decline in bank-held dollar reserves has had a cascading effect on the nation's overall foreign exchange reserves. As of May 24, domestic foreign exchange reserves stood at $14.31 billion, according to the State Bank of Pakistan. This represents a decrease of $270 million from the previous week.
The State Bank of Pakistan’s (SBP) reserves specifically have also been impacted, dropping by $60.3 million to a total of $9.09 billion. This reduction underscores the broader challenges facing the country's financial stability.
