KARACHI: Foreign exchange reserves of the State Bank of Pakistan (SBP) declined by $240 million during the week ended on June 10.
According to details shared by the central bank, the overall foreign reserves held by the country stood at $14.94 billion on June 10.
Sharing a break-up of the foreign reserves position, the central bank said that the reserves held by the State Bank of Pakistan stand at $8.98 billion while commercial banks also have reserves of $5.96 billion.
Meanwhile, the Pakistani currency plummeted against the US dollar and surpassed Rs208 against the greenback. The domestic currency plunged Rs1.79 to a record low of Rs208.25 against the greenback at 12:25pm.
It is pertinent to mention here that Shehbaz Sharif-led coalition government on Wednesday jacked up petrol price by Rs24 per litre.
The announcement was made by Finance Minister Miftah Ismail while addressing a press conference in Islamabad, citing government was not in a position to bear more subsidies anymore.