Country's reserves decline to $21 billion mark

The country's foreign exchange reserves continued downward trend and reached below $21 billion mark in the end of the last week. According to State Bank of Pakistan's (SBP) weekly foreign exchange reserves report issued on Thursday, the country's total liquid foreign reserves were declined $ 618 million to $ 20.83 billion during the week end on July 14, 2017 as compared to $ 21.448 billion as on July 7, 2017.
During the week under review, reserves held by SBP witnessed downward trend and declined by $ 719 million during the last week. SBP's reserves reached below $16 billion mark and stood at $15.479 billion end of the last week down from $16.197 billion a week earlier. However, reserves held by banks posted an increase of $ 101 million to $ 5.352 billion.