Forex reserves shrink to $18.329 billion

KARACHI: Pakistan’s total liquid foreign exchange reserves went down to $18.329 billion on March 2 from $18.413 billion a week ago, the central bank reported on Thursday.

The foreign exchange reserves held by the State Bank of Pakistan (SBP) fell to $12.233 billion as compared to $12.346 billion in the previous week.

The depletion in the central bank’s reserves is due to external debt servicing and other official payments.

The foreign exchange reserves held by commercial banks came at $6.096 billion as opposed to $6.067 billion in the preceding week.