Country’s weekly FX reserves ease by $311 million

Country’s weekly FX reserves ease by $311 million

KARACHI: The liquid foreign exchange of reserves of the country fell by $311 million to $20.241 billion by week ended November 27, 2020, State Bank of Pakistan (SBP) said on Thursday.

The foreign exchange reserves were at $20.552 billion by week ended November 20, 2020.

The official reserves of the SBP fell by $305 million to $13.11 billion by week ended November 27, 2020 as compared with $13.415 billion a week ago.

The SBP attributed the decline in official reserves to scheduled external debt payment by the government.

The foreign exchange reserves held by commercial banks also eased by $6 million to $7.131 billion by week ended November 27, 2020 as compared with $7.137 billion a week ago.

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