Forex reserves decline to $16.722bln

KARACHI: The country’s overall foreign exchange reserves decreased to $16.722 billion during the week ended August 17, as compared to $17.005 billion during the previous week, the central bank said on Friday. The foreign exchange reserves held by the State Bank of Pakistan (SBP) went up by $82 million to $10.235 billion against $10.152 billion on a weekly basis.

Similarly, the forex reserves of commercial banks declined to $6.488 billion during the week under review as compared to $6.635 billion in the preceding week.