KARACHI: State Bank has ruled out the possibility of mortgaging gold reserves to meet foreign exchange demand.
According to the Deputy Governor State Bank Inayat Hussain, Pakistan's foreign exchange reserves are about nine and three billion dollars, the value of the gold that Pakistan has is three and eight billion dollars, which is apart from the reserves, there is no such situation yet. That gold has to be mortgaged.
.jpg)
He said that the level of foreign exchange is not dangerous at this time, since December, the value of the rupee has decreased by eighteen percent, of which the reason for the twelve percent decrease is the increase in the value of the American dollar at the international level. Another reason for rupee depreciation is demand and supply, there was pressure on rupee due to low supply of dollar and high demand. will go
The Deputy Governor said that no bank or oil company has received any complaint in recent days that they are facing difficulty in opening LCs. No, the foreign exchange market is fully active in Pakistan.
.jpg&description=The possibility of mortgaging gold reserves to meet foreign exchange demand is rejected){kind=link}