Forex reserves fall to $16.13bn

KARACHI: Pakistan’s foreign exchange reserves declined to $16.131 billion during the week ended March 20 as compared to $16.273 billion a week ago, the central bank reported on Thursday.
Forex reserves held by the State Bank of Pakistan (SBP) fell by $159 million to $11.067 billion, following $268 million repayments to the external creditors.
The central bank paid $51 million to the International Monetary Fund under the Emergency Natural Disaster Assistance.
Moreover, the central bank received $114 million from multilateral and bilateral sources during the week.
The SBP’s reserves stood at $11.226 million in the previous week. However, foreign exchange reserves of commercial banks increased to $5.064 billion against $5.047 billion a week ago.