Forex reserves fall by $156m

KARACHI: The country’s total liquid foreign exchange reserves dropped by $156 million during last week due to external debt servicing.

According to the weekly foreign exchange report issued by the State Bank of Pakistan (SBP) Thursday, the total liquid foreign exchange reserves held by the country stood at $ 14.317 billion as of Sept 9, 2022 compared to $14.474 billion on Sept 2, 2022.

During the week under review, the SBP’s reserves decreased by $ 176 million to $ 8.624 billion from $8.799 billion a week earlier due to external debt and other payments.

However, net foreign exchange reserves held by commercial banks rose by $20 million to $5.693 billion at the end of last week.

Copyright Business Recorder, 2022