KARACHI: The country’s total liquid foreign exchange reserves declined by $123 million during the last week.

According to State Bank of Pakistan (SBP) weekly foreign exchange report issued Thursday, Pakistan’s total liquid foreign exchange reserves stood at $ 25.028 billion as on 10th December-2021 compared to $ 25.151 billion a week earlier.

During the week under review, the SBP reserves decreased by $ 90 million to $ 18.568 billion down from $18.658 billion. Net forex reserves held by commercial banks $ 6.459 billion, down by $33 million in a week.

Pakistan has received some $3 billion deposit from Saudi Arabia on December 4, 2021 to build the depleting foreign exchange and support the external account. However, the country’s reserves are still on decline due to external debt servicing and higher trade deficit.

Copyright Business Recorder, 2021