Pakistan’s forex reserves deplete to $17.03 billion

Pakistan’s forex reserves deplete to $17.03 billion

KARACHI: Pakistan’s total foreign exchange reserves fell by $447 million to $17.03 billion by week ended April 08, 2022, State Bank of Pakistan (SBP) said on Thursday.

The foreign exchange reserves of the country were $17.477 billion a week ago i.e. April 01, 2022.

READ MORE: Pakistan’s foreign exchange reserves shrink to $17.48 bn

The official reserves of the State Bank fell by $469 million to $10.85 billion by week ended April 08, 2022 as compared with $11.32 billion a week ago. The SBP attributed the decline in foreign exchange reserves to external debt repayments.

The foreign exchange reserves held by commercial banks however increased by $20 million to $6.178 billion by week ended April 08, 2022 as compared with $6.158 billion a week ago.

READ MORE: Pakistan’s weekly forex reserves deplete by $2.88 billion

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