Forex reserves fall to $24.61bln

KARACHI: Pakistan’s foreign exchange reserves fell by $49 million or 0.19 percent in the week ended August 20, the central bank reported on Thursday.

The total liquid foreign reserves held by the country stood at $24.619 billion, compared with $24.668 billion in the previous week.

Reserves of the State Bank of Pakistan decreased by $47 million to $17.578 billion on account of debt repayments, it said in a statement.

“On August 23 2021, SBP received IMF (International Monetary Fund) SDR (Special Drawing Right) Allocation funds amounting to $2,751.8 million.

This amount will increase FX reserves of SBP and will be reflected in the data to be published on September 2, 2021,” it added.

The forex reserves held by commercial banks stood at $7.040 billion, compared with $7.042 billion a week ago.