Forex reserves down $84 million

The country''s liquid foreign exchange reserves fell by $84 million during the last week due to external debt payment. The State Bank of Pakistan (SBP) Thursday reported that the country''s total foreign exchange reserves stood at $18.329 billion as on March 2, 2018 compared to $18.413 billion a week earlier.
During the period under review, reserves held by the SBP posted a declining trend due to external debt servicing and other official payments, while banks'' reserves surged slightly. The SBP''s liquid forex reserves declined by $112.4 million to $12.233 billion at the end of last week. Similarly, reserves held by banks moved up by $28.3 million to $6.096 billion as on March 2, 2018 compared to $6.067 billion on February 23, 2018.