Forex reserves plummet

The country's total liquid foreign exchange reserves declined sharply by $417.3 million during last week, mainly due to external debt payment. According to State Bank of Pakistan's weekly report issued Thursday, the country's total liquid foreign exchange reserves stood at $21.151 billion as on April 21, 2017 compared to $21.568 billion on April 14, 2017.
During the week under review, the SBP's reserves decreased by $366 million to $16.05 billion down from $16.416 billion due to external debt servicing and other official payments. Reserves held by banks declined by $51.3 million to $5.1007 billion at the end of the week compared to $5.152 billion a week earlier.