Pakistan’s forex reserves fall by $776 mn in one week

Pakistan’s forex reserves fall by $776 mn in one week

KARACHI: Pakistan’s foreign exchange reserves have declined by $776 million during a week owing to external debt repayment, the State Bank of Pakistan (SBP) said on Thursday.

The country’s foreign exchange reserves fell to $22.774 billion by the week ended November 19, 2021 as compared with $23.55 billion a week ago.

The reserves held by the SBP fell by $691 million to $16.254 billion by the week ended November 19, 2021 as compared with $16.945 billion a week ago. The central bank attributed the decline in its reserves to external debt repayment.

The foreign exchange reserves held by the commercial banks also came down by $85 million to $6.52 billion as compared with $6.605 billion a week ago.

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