Forex reserves fall to $22.050 billion

KARACHI: Pakistan’s foreign exchange reserves fell to $22.050 billion during the week ended March 17 from $22.274 billion a week ago, the central bank said on Friday. 

The reserves held by the State Bank of Pakistan (SBP) declined $278 billion on the back of external debt servicing. 

The central bank’s reserves stood at $16.961 billion as compared to $17.238 billion in the preceding week.

Net forex reserves of commercial banks amounted to $5.089 billion against $5.035 billion recorded during  the previous week.