Pakistan''s foreign exchange reserves down by $137 million

The country''s total liquid foreign reserves declined slightly by $137 million during last week. According to State Bank of Pakistan (SBP), the country''s foreign exchange reserves stood at $24.189 billion as on October 28, 2016 compared to $24.327 billion as on October 21, 2016.
The decrease in reserves was due to external debt servicing and other official payments, SBP said.
During the week, SBP''s reserves witnessed declining trend, while reserves held by banks surged slightly. Reserves held by State Bank declined by $190.3 billion to $19.130 billion end of the last week. While reserves held by banks surged by $53 million to $5.059 billion as compared to $5.006 billion a week earlier.