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2023-05-25 18:41:04
00:12:16
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The State Bank of Pakistan (SBP)-held foreign exchange reserves dropped to $4.2 billion as the cash-strapped nation fails to secure external financing despite attempts to resume a stalled bailout programme.
In its bulletin, the SBP said its reserves have fallen $119 million as of the week ended May 19 due to external debt repayments, and currently stand at $4.19 billion, with Arif Habib Limited saying the reserves would provide an import cover of less than a month.
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