March 1, 2024

SBP forex reserves dip below $8bn amid debt woes

A staff counts US dollar currency notes at a money changer booth at Raffles Place financial business district in Singapore on October 6, 2022. — AFP/FileKARACHI: The foreign exchange reserves held by the central bank fell by $63 million to $7.950 billion in the week ending February 23, due to foreign debt repayments, the State Bank of Pakistan said on Thursday.The country’s forex reserves decreased by $59 million to $13.039 billion. However, the reserves of commercial banks slightly...