Foreign exchange reserves slip by $20 million

Foreign exchange reserves slip by $20 million

KARACHI: The liquid foreign exchange reserves of the country have slipped by $20 million to $18.598 billion by week ended May 21, 2020.

The total foreign exchange reserves of the country were at $18.618 billion a week ago, State Bank of Pakistan (SBP) said on Thursday.

The official reserves of the central bank fell by $55 million to $12.074 billion by week ended May 21, 2020 as compared with $12.129 billion a week ago.

The SBP attributed the decline to external debt repayment.

The foreign exchange reserves held by commercial banks however increased by $35 million to $6.524 billion by week ended May 21, 2020 as against $6.489 billion a week ago.

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