ISLAMABAD-As the State Bank of Pakistan reported that the nation’s overall foreign reserves amounted to $13,079.1 million. Pakistan’s foreign reserve levels have experienced a downward trend in recent months due to a number of contributing factors. Several elements play a pivotal role in corroding Pakistan’s foreign reserves. To begin with, the underground black-market trading of USD has considerably drained the nation’s precious foreign exchange reserves. Additionally, while import restrictions were initially implemented to safeguard foreign exchange, they have, on occasion, inadvertently increased the growth of informal networks and illicit black-market transactions.

Source: The Nation October 10, 2023 20:31 UTC