Pakistan’s forex reserves plunge by $866 million

Pakistan’s forex reserves plunge by $866 million

KARACHI: Pakistan’s liquid foreign exchange reserves plunged by $866 million to $22.482 billion by week ended January 21, 2022, the central bank said on Thursday.

The country’s foreign exchange reserves were at $23.35 billion by week ended January 14, 2022, the State Bank of Pakistan (SBP) said.

The official reserves of the central bank sharply declined by $846 million to $16.19 billion by week ended January 21, 2022 as compared with $17.036 billion a week ago.

The SBP attributed the decline to external and other repayments.

The foreign exchange reserves held by commercial banks also fell by $22 million to $6.292 billion by week ended January 21, 2022 as compared with $6.314 billion a week ago.

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