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Foreign exchange reserves fall by $804m

Foreign exchange reserves fall by $804m

KARACHI: The official foreign exchange reserves of State Bank of Pakistan (SBP) have decreased by $804 million during one week due to external debt payment.

The SBP said that during the week ended March 27, 2020 its reserves fell by $840 million to $11.185 billion from $11.989 billion a week ago.

“This decline is attributed primarily to government external debt payments that amounted to $441 million and other official payments,” the SBP said.

The total liquid foreign reserves of the country fell by $718 million to $17.387 billion on March 27, 2020 as compared with $18.105 billion a week ago.

The reserves held by the commercial banks however increased by $86 million to $6.202 billion by week ended March 27, 2020 as compared with $6.116 billion a week ago.