Forex reserves down by $264 million

The country's total liquid foreign reserves fell by $264 million during the last week. According to State Bank of Pakistan (SBP) weekly foreign exchange reserves' report issued on Thursday, after reaching all time high level of $21 billion, the country's total liquid foreign reserve posted some decline during the last week. Pakistan's total liquid foreign reserves decreased to $20.81 billion on January 1, 2016 compared to $21.073 billion as on December 25, 2015 week earlier.
During the week under review, SBP's liquid forex reserves decreased by $288 million to $15.883 billion down from $16.171 billion in the previous week. However, reserves held by banks surged by $24.4 million to $4.926 billion end of the week.