Pakistan’s foreign exchange reserves declined by $24 million

Pakistan’s total foreign exchange reserves declined by $24 million during the past week, although the State Bank of Pakistan (SBP) recorded a slight increase in its own holdings while commercial bank reserves saw a notable drop.

According to the latest data released by the SBP, the country’s overall foreign exchange reserves fell by $24 million, bringing the total to $19.66 billion.

The central bank’s reserves, however, rose by $31.2 million, reaching $14.50 billion.

On the other hand, reserves held by commercial banks decreased significantly by $55.2 million, falling to $5.16 billion.