Downward trend in the country's foreign exchange reserves continued during the last week and the reserves plunged by 164 million dollars during the week ended November 1, 2008. The State Bank of Pakistan on Thursday said that the country's foreign exchange reserves declined to 6.7581 billion dollars during the week ended November 1, against 6.9218 billion dollars a week earlier, depicting a decline of 163.7 million dollars.
The major decline was witnessed in the SBP's reserves, which showed a decline of 184.1 million dollars to 3.5297 billion dollars as compared to 3.7138 billion dollars on October 25, 2008.
However, the reserves held by banks showed an upward trend during the last week and the overall foreign reserves amounted to 3.2284 billion dollars on November 1. It previously stood at 3.208 billion dollars a week earlier, depicting an increase of 20.4 million dollars.
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