Reserves decline 0.5pc to $23.5bn


Reserves decline 0.5pc to $23.5bn KARACHI: Pakistan’s total liquid foreign exchange reserves amounted to $23.5 billion on October 7, down 0.5 per cent from a week ago, the State Bank of Pakistan (SBP) said on Thursday.

According to a statement released by the central bank, SBP’s liquid foreign exchange reserves decreased $81 million to $18.4bn during the week. During the week, the SBP made payments of $76m on account of external debt servicing.

Reserves witnessed a major boost in the week ending on Sept 23 when Pakistan received $700m from China Development Bank.

Net foreign exchange reserves held by commercial banks amounted to $5bn on October 7, registering 0.7pc decrease over the preceding week.


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