Forex reserves slump to $7.74bn

Updated at: 1756 PST, Friday, October 17, 2008
KARACHI: Pakistan’s foreign exchange reserves squeezed to 7.74 billion dollars after declining further by 580 million, the State Bank of Pakistan said.

According to figures released by SBP, the foreign exchange reserves with SBP stand at 4.33 billion dollars, showing a decrease of 560 million while those held by commercial banks depleted by 50 million dollars to 3.41 billion