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Forex reserves fall to $18.618bln

Business

May 22, 2020

KARACHI: The total liquid foreign exchange reserves of the country declined to $18.618 billion during the week ended May 15, compared with from $18.744 billion in the previous week, the central bank reported on Thursday.

The State Bank of Pakistan’s (SBP) foreign exchange reserves fell $141 million to $12.129 billion. The forex reserves held by the SBP stood at $12.270 billion in the previous week.

“During the week, the external debt repayments of $156.1 million were made, which explain the fall in the FX reserves,” the SBP said.

The foreign exchange reserves held by commercial banks stood at $6.489 billion, compared with $6.473 billion in the previous week.