Forex reserves down

KARACHI: The country’s total liquid foreign exchange reserves fell by $257.3 million during the last week due to external debt servicing.

According to State Bank of Pakistan’s weekly foreign exchange reserves report issued on Thursday, the total liquid foreign reserves held by the country stood at $12.656 billion as of Oct 20, 2023 down from $12.913 billion as of October 13, 2023.

During the week under review, SBP’s reserves decreased by $220 million to $7.494 billion on account of debt repayments. Net foreign exchange reserves held by commercial banks also declined by $37.5 million to reach $5.161 billion end of last week.

Copyright Business Recorder, 2023