KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) fell sharply $562 million in a week due to external debt servicing and other payments.

During the week ended on January 14, 2022, SBP reserves decreased to $17.036billion compared to $17.598 billion as on January 7, 2022. However, during the period under review, net foreign reserves held by commercial banks rose by $10.5 million to $ 6.314 billion.

According to weekly foreign exchange report issued by SBP, the total liquid foreign exchange reserves held by the country stood at $ 23.35billion as of 14th January 2022, down from $23.902 billion a week earlier.

Copyright Business Recorder, 2022