Weekly forex reserves: Pakistan's total foreign exchange drops slightly to $2.13 billion
Business
State Bank reports total forex reserves fell to $2.13 billion despite SBP reserves rising; commercial banks’ holdings dropped, reducing overall foreign currency reserves last week.
KARACHI (Dunya News) – The State Bank of Pakistan has released the weekly data on the country’s foreign exchange reserves.
According to the report, SBP’s own reserves rose by $19 million over the week, reaching $1.6197 billion.
Meanwhile, commercial banks saw their reserves decline by $9.2 million, falling to $510.46 million.
The net effect of the decrease in commercial bank reserves led to a reduction of $7.3 million in Pakistan’s total foreign exchange reserves. Consequently, the country’s overall forex reserves decreased to $2.13015 billion.
