Pakistan’s forex reserves decline

KARACHI: Pakistan’s foreign exchange reserves fell $209 million due to the payment for import of Covid vaccine, the State Bank of Pakistan (SBP) reported on Thursday.

The total foreign exchange reserves of the country decreased $24.644 billion by the week ended August 6, 2021, compared with $24.853 billion a week ago.

The official reserves held by the SBP fell $223 million to $17.623 billion by the week ended August 6, 2021, compared with $17.846 billion on July 30, 2021.

The SBP said during the week the bank made external debt repayments and payments for the import of the Covid-19 vaccine amounting to $245 million.

The foreign exchange reserves held by commercial banks; however, increased $14 million to $7.021 billion by the week ended August 6, 2021, compared with $7.007 billion a week ago.

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