Forex reserves rise to $17.749 billion

KARACHI: Pakistan’s foreign exchange reserves inched up to $17.749 billion during the week ended May 15 as against $17.739 billion a week ago, the central bank reported on Thursday.
However, forex reserves held by the State Bank of Pakistan declined by $38 million to $12.512 billion as compared to $12.550 billion in previous week.
The SBP made payments of $63 million on account of external debt servicing and no major inflow was recorded during the week. Foreign currency reserves of commercial banks amounted to $5.237 billion as against $5.189 billion during the preceding week.