Pakistan’s forex reserves fall $776 million to $22.774 billion

KARACHI: Pakistan’s liquid foreign exchange reserves have declined $776 million to $22.774 billion by the week ended November 19, 2021, the central bank reported on Thursday.

The foreign exchange reserves of the country stood at $23.55 billion by the week under review.

The official foreign exchange reserves of the State Bank of Pakistan (SBP) slipped $691 million to $16.254 billion by the week ended November 19, 2021, compared with $16.945 billion a week ago.

The SBP attributed the decline in its reserves to external debt repayments.

The foreign exchange reserves held by other commercial banks also came down $85 million to $6.52 billion, compared with $6.605 billion a week ago.