Pakistan’s foreign exchange reserves fall by $769 million to $15 billion

KARACHI: Pakistan’s total foreign exchange reserves declined by $769 million to $15 billion by week ended September 27, 2019, State Bank of Pakistan (SBP) said on Thursday.

The total foreign exchange reserves of Pakistan declined by $768.9 million to $15.003 billion by week ended September 27, 2019 as compared with $15.772 billion a week ago.

The official reserves held by the SBP came down by $723.7 million to $7.741 billion by week ended September 27, 2019 as compared with $8.465 billion a week ago.

The SBP said that its official reserves were declined due to foreign debt repayment.

The reserves held by commercial banks also fell by $45.2 million to $7.262 billion as compared with $7.307 billion a week ago.

The foreign exchange reserves hit record high of $23.084 billion on week ended July 01, 2016.

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