Pakistan’s forex reserves decline by $395 million in week

Pakistan’s forex reserves decline by $395 million in week

KARACHI: Pakistan’s foreign exchange reserves have declined by $395 million to $24.633 billion by the week ended December 17, 2021, the State Bank of Pakistan (SBP) said on Thursday.

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The foreign exchange reserves of the country were $25.028 billion a week ago.

The official foreign exchange reserves of the SBP were reduced by $414 million to $18.153 billion by the week ended December 17, 2021, as compared with $18.568 billion a week ago.

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The central bank said that its reserves had fallen mainly due to external debt repayment.

The foreign exchange reserves held by commercial banks however increased by $19 million to $6.479 billion by the week ended December 17, 2021, as compared with $6,460 billion a week ago.

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