Plummeting rate of Pakistan’s forex reserves fastest in Asia: Bloomberg

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Bangladesh’s reserves are now more than double those of Pakistan’s.
(City News) – Pakistan is depleting its dollar reserves at the fastest pace in Asia and may soon have a buffer that’s smaller than Cambodia, an economy that’s less than a 10th of its size, reported Bloomberg.

Reserves have dropped by about a fifth in the past year to reach $13.5 billion in February, while in Cambodia they’ve increased a third to $11.2 billion in January, according to data from the International Monetary Fund. Pakistan’s reserves are expected to drop as much as $2.2 billion by June, according to Insight Securities Pvt.

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