Forex reserves fall by $167.7 million

The country's forex reserves fell by $167.7 million during last week due to rising debt payments. During last one week, the country paid cumulatively some $250 million to the International Monetary Fund on account of two instalments of Stand-By Arrangement (SBA) programme.
The State Bank of Pakistan (SBP) on Thursday reported that the country's total reserves declined to $12.202 billion as on March 29, 2013 from $12.37 billion as on March 22, 2012. During the period under review, the SBP's reserves fell by $149.3 million to $7.128 billion from $7.277 billion a week earlier. While, reserves held by banks declined to $5.07 billion from $5.09 billion.