The fast depletion of the foreign exchange reserves was the result of Pakistan's inflation of twin deficits, a lack of foreign currency inflows, and a sharp increase in the foreign debt servicing obligations. Inflation in Pakistan entered the double-digit mark in July, the biggest surge in nearly six years. Follow us on Facebook , Twitter and Instagram.
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Home World News Pakistan: Rupee witnesses sharp decline due to dwindling foreign reserves. Representative Image: ANI. The fast depletion of the foreign exchange reserves was the result of Pakistan's inflation of twin deficits, a lack of foreign currency inflows, and a sharp increase in the foreign debt servicing obligations Inflation in Pakistan entered the double-digit mark in July, the biggest surge in nearly six years. You are now subscribed to our newsletters. Premium Premium Akasa Air takes delivery of its first aircraft Boeing Subscribe to Mint Newsletters.
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According to the Forex Association of Pakistan (FAP), the rupee depreciated sharply by Rs to close at an all-time low of Rs against. Checkout for the Latest and Top News from Pakistan and around the world. Forex & Gold - June 17, The Pakistani Forex & Gold - March 21, Pakistan's forex reserves continue to deplete despite over $5bn loans in the past three months from bilateral and multilateral creditors.