Foreign exchange reserves ease

KARACHI: The foreign exchange reserves of the country have dwindled down by 270 million dollar 17.79 billion dollar, a weekly statement of the State Bank of Pakistan (SBP) stated here on Thursday.

The foreign exchange reserves stood at 17,794.1 million dollar on September 10 as compared to 18,06 billion dollar on September 03, the SBP statistics showed.

The break-up further showed that the reserves with SBP were 14.34 billion dollar and that with commercial banks were 3.453 billion dollar.

"Routine debt servicing is the main cause of the drop in reserves," said a banking expert dealing with the Central Bank.

Copyright APP (Associated Press of Pakistan), 2011