Forex reserves slip $48mln

KARACHI: The foreign exchange reserves of the country slipped $48 million to $20.051 billion by the week ended September 22 from $20.099 billion a week ago, the central bank said on Thursday.

The official reserves of the State Bank of Pakistan (SBP) decreased $151 million to $14.132 billion from $14.283 billion. The central bank said the foreign exchange reserves declined due to external debt servicing and other official payments.

The reserves maintained by commercial banks; however, increased $102 million to $5.918 billion during the week under review from $5.816 billion a week ago.