No Result
View All Result
  • Business
  • National
  • World
  • Sports
  • Entertainment
    • ZABTHEATRE’23
  • Tech
  • Stories
  • Education
  • YourCut
  • Business
  • National
  • World
  • Sports
  • Entertainment
    • ZABTHEATRE’23
  • Tech
  • Stories
  • Education
  • YourCut
No Result
View All Result
No Result
View All Result

Pakistan’s foreign reserves hit eight-year low; stand at $5.6bn

News Desk by News Desk
January 6, 2023
in Business, Featured, Latest News, National, News, Politics, Top News
Reading Time: 1 min read
Foreign exchange reserves of Pakistan down by $748 million

KARACHI: Pakistan’s economic miseries have been further compounded after the central bank’s foreign reserves fell to eight-year low, currently standing at $5.6 billion. Despite the looming threat of default, Finance Minister Ishaq Dar is hopeful that the country won’t face a Sri Lanka like situation and would get out of the economic crisis unhurt.

Dar has tied his hopes on the friendly countries that have promised financial support to the cash-deprived country. Meanwhile, the Pakistani Prime Minister Shehbaz Sharif contacted the International Monetary Fund Managing Director Kristalina Georgieva over telephone in a bid to convince her to relax the conditions laid down by the global lending body.

On the other hand, Pakistani rupee has lost significant value against the US dollar and other major currencies owing to the continuous decline in the foreign reserves of the State Bank of Pakistan.

News Desk

News Desk

Related Posts

Israel continues airstrikes at Gaza as Hamas-Israel truce expired
Featured

Israel-Hamas truce expired; Israel continues airstrikes at Gaza

December 1, 2023
Winners of WomenInTech Cohort 5
Corporate World

Standard Chartered announces Winners of WomenInTech Cohort 5

November 30, 2023
Police arrests key suspects in RJ shopping mall fire case
Featured

RJ shopping mall fire case: Police arrests key suspects

November 30, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

TOP NEWS

Winners of WomenInTech Cohort 5

Standard Chartered announces Winners of WomenInTech Cohort 5

by Web Desk
November 30, 2023

KARACHI: Standard Chartered Bank (SCBPL), in partnership with INNOVentures Global (Private) Limited, announced the winners of #SCWomenInTech Cohort 5, 2023....

ZA Sprint launched by Zong 4G

Zong 4G Announces the Launch of MZA Sprint

by Web Desk
November 30, 2023

ISLAMABAD: Zong 4G, Pakistan’s leading telecommunications company, has launched a suite of new features on its My Zong App (MZA),...

Barrister Gohar Khan named chairman PTI candidate

Barrister Gohar Khan named as candidate for PTI chairmanship

by News Desk
November 30, 2023

ISLAMABAD: On Tuesday, the developments in Pakistan Tehreek-e-Insaf took a surprising turn when former prime minister Imran Khan named Barrister...

KSE-100 index gains 60000 points

PSX crosses the record barrier of 60000 points

by News Desk
November 29, 2023

On Tuesday, the Pakistan Stock Exchange (PSX) continued its bullish run as the benchmark index crossed the record-high 60000 points...

The Upcut is a news platform that brings you the latest news, developments from all walks of life, from all over the world. We cover Business, news from Pakistan and rest of the world, Sports, and Entertainment. You can also read Tech Reviews and How-To Guides for simple solutions and dailylife hacks.

BUSINESS   |   NATIONAL   |   WORLD   |   SPORTS   |   ENTERTAINMENT   |   TECH   |   HOW-TO GUIDES

  • Home
  • About Us
  • Privacy Policy
  • Editorial Guidelines
  • Contact Us
  • Stories

Copyright © 2022 The Upcut. All rights reserved.

No Result
View All Result
  • Business
  • National
  • World
  • Sports
  • Entertainment
    • ZABTHEATRE’23
  • Tech
  • Stories
  • Education
  • YourCut

Copyright © 2022 The Upcut. All rights reserved.

Go to mobile version