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November 9, 2018

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Forex reserves fall to $14.068 billion

Forex reserves fall to $14.068 billion

KARACHI: Pakistan’s foreign exchange reserves dropped 0.81 percent, or $116 million in the week ended November 2, the central bank reported on Thursday.

Total reserves of the country stood at $14.068 billion, compared with $14.184 billion recorded in the previous week. Reserves held by the State Bank of Pakistan decreased $98 million to $7.679 billion.

The central bank’s reserves were weighed down by external debt servicing.

The reserves of commercial banks fell to $6.389 billion, compared with $6.407 billion in the preceding week, SBP data stated.

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