Foreign exchange reserves decline by $78 million to $15.89 billion

KARACHI: The foreign exchange reserves of the country decreased by $78 million to $15.894 billion by week ended May 10 owing to foreign debt payment, State Bank of Pakistan (SBP) said on Thursday.

The total foreign exchange reserves of the country reduced to $15.894 billion by week ended May 10, 2019 as compared with $15.972 billion a week ago.

The official reserves of the SBP declined by $138.5 million to $8.845 billion by week ended May 10, 2019 as compared with $8.984 billion a week ago.

The SBP said that the foreign exchange reserves were declined due to external debt servicing and other official payments.

However, reserves held by commercial banks increased by $60.3 million to $7.049 billion by the week under review as compared with $6.988 billion by week ended May 03, 2019.

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