The Central Bank of Pakistan has recently imposed foreign exchange restrictions to protect the country’s dwindling reserves. This is in light of recent reports of the emergence of a black market for dollars. Pakistan’s foreign reserves have reportedly fallen to a four-year low of $6.7 billion. According to Bloomberg, on the surface, this hasn’t affected … Read more
decrease in India’s foreign exchange reserves According to Union Finance Minister Nirmala Sitharaman, it is mainly due to fluctuations in the value of the US dollar. He said this while addressing the International Monetary Fund Committee at the annual meeting of the World Bank and the International Monetary Fund (IMF) last Friday. “India’s foreign exchange … Read more
Forex Kenya’s foreign exchange reserves fell to record lows this week, leaving the shilling at its lowest level against major global currencies, the central bank said in its weekly financial market report on Friday evening. Apex Bank stated that the reserves recorded a low of 7.72 billion dollars from last week’s 7.74 billion dollars. The … Read more
The government eventually stopped the devaluation of the dollar, stopped workers’ trips abroad, and delayed many imports. This comes a day after the central bank tightened regulations on luxury and non-essential items such as sports equipment, washing machines, air conditioners and refrigerators. Follow the Daily Star Google News Channel for all the latest news. The … Read more