Reserves decline to $24.19bn

reserves-decline-to-24-19bn

Reserves decline to $24.19bn KARACHI: Pakistan’s total liquid foreign exchange reserves amounted to $24.19 billion on Oct 28, down 0.56 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 almost 1pc week-on-week to $19.1bn due to external debt servicing and other official payments.

The SBP reported two weeks ago that its liquid foreign exchange reserves surged by almost $1bn when it received the proceeds of the Pakistan Sukuk Bonds.

Net foreign exchange reserves held by commercial banks amounted to $5bn on Oct 28, registering a nominal increase over the preceding week.

Source: http://www.dawn.com/news/1294074/reserves-decline-to-2419bn

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