Pakistan’s forex reserves dip $329 million to reach $23.257 billion

KARACHI: The liquid foreign exchange reserves of the country declined $329 million to reach $23.257 billion by the week ended June 18, 2021, compared with $23.586 billion by the week ended June 11, 2021, the central bank reported on Thursday.

The official foreign exchange reserves of the State Bank of Pakistan (SBP) fell from $311 million to $16.106 billion during the period under review, compared with $16.417 billion a week ago.

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The SBP attributed the fall in the official foreign exchange reserves to external debt repayments.

Similarly, the foreign exchange reserves held by the commercial banks decreased $18 million to $7.151 billion by the week ended June 18, 2021, compared with $7.169 billion a week ago, it added.

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