Forex reserves fall by $56m

KARACHI: The country’s liquid foreign exchange reserves fell by $56 million during the last week due to debt payment. According to the State Bank of Pakistan’s weekly foreign exchange reserve report issued Thursday, the total liquid forex reserves held by the country stood at $ 9.76 billion as of Mar 31, 2023 compared to $9.816 billion on March 24, 2023.

During the week under review, the SBP’s reserves decreased by $ 36 million to $ 4.208 billion down from $ 4.244 billion due to external debt repayments.

Net foreign exchange reserves held by commercial banks also declined by $20 million to $ 5.552 billion at the end of last week.

Copyright Business Recorder, 2023