SBP forex reserves fall by $463 million on debt repayment

KARACHI: The official foreign exchange reserves held by State Bank of Pakistan (SBP) fell by $463 million during last week ended April 03, 2020, the central bank said on Thursday.

The foreign exchange reserves of the SBP fell to $10.722 billion by week ended April 03, 2020 as against $11.185 billion a week ago.

The SBP attributed this decline to external debt repayments of $465 million.

The foreign exchange reserves held by commercial banks increased by $64 million to $6.266 billion by week ended April 03, 2020 as compared with $6.202 billion a week ago.

The total foreign exchange reserves of the country fell by $399 million to $16.988 billion by week ended April 03, 2020 as compared with $17.387 billion by week ended March 27, 2020.

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