Forex reserves decline by $50 million

The country's total liquid foreign exchange reserves declined by $50 million during the last week. According to State Bank of Pakistan (SBP), the country's total liquid foreign reserves stood at $20.759 billion on January 8, 2016 as against $20.810 billion as on January 1, 2016. During the week under preview, SBP's liquid foreign exchange reserves decreased by $59 million to $15.824 billion as compared to $15.883 billion in the previous week. This decrease was due to payments of $60 million on account of external debt servicing. However, reserves held by the banks posted an increase of $9 million to $4.935 billion end of the last week.