Pakistan's foreign exchange reserves dip by $132 million
Business
Pakistan’s foreign exchange reserves drop by $132 million, mainly due to a steep decline in commercial bank reserves, though SBP reserves recorded a small increase.
KARACHI (Dunya News) – Pakistan’s foreign exchange reserves took a hit this week, dropping by $132 million, according to fresh data released by the State Bank of Pakistan (SBP).
With the latest fall, the country’s total reserves now stand at $19.605 billion.
However, the central bank’s own reserves inched up by $9.2 million, pushing SBP-held reserves to $14.567 billion.
On the other hand, commercial banks’ reserves went down sharply, declining by $142.4 million, which largely contributed to the overall slide.
Analysts say the dip comes at a time when Pakistan is trying to keep its head above water amid external payment pressures and fluctuating inflows.
