Forex reserves fall to $20.79 billion

KARACHI: The foreign exchange reserves of the country depleted $214 million to $20.79 billion by the week ended May 5 from $21 billion during the preceding week, the central bank said on Thursday. During the week, the State Bank of Pakistan’s (SBP) reserves decreased $149 million to $15,913 million. The decrease in reserves has been attributed to external debt servicing. The reserves held by commercial banks also went down $65 million to $4.87 billion from $4.94 billion during the preceding week.