Forex reserves fall to $18.508 billion

KARACHI: Pakistan’s foreign exchange reserves declined to $18.508 billion during the week ended August 21 as compared to $18.655 billion in the previous week, the central bank reported on Thursday.
Foreign reserves held by the State Bank of Pakistan (SBP) fell $157 million to $13.458 billion as against $13.615 billion a week ago.
The decrease in the SBP’s reserves is stemmed from debt repayments to the international creditors.
The State Bank of Pakistan made payments of $94 million on account of external debt servicing.
Foreign currency reserves of commercial banks amounted to $5.05 billion from $5.03 billion last week.