Forex reserves down $217 million

The country''s liquid foreign exchange reserves maintained downward trend during last week due to external debt servicing. According to the State Bank of Pakistan (SBP), Pakistan''s total liquid foreign exchange reserves posted a decline of $217 million during last week. The total liquid foreign exchange reserves held by the country stood at $19.695 billion as on November 10, 2017 compared to $19.912 billion on November 3, 2017.
During the week under review, the SBP and banks'' reserves witnessed a downward trend, however the major fall was registered in the SBP''s reserves. During the week ending November 10, the SBP''s reserves decreased by some $184 million to $13.678 billion down from $13.861 billion due to external debt and other official payments. Similarly, reserves held by banks declined slightly by $33.5 million to $6.017 billion at the end of last week.