KARACHI: The country’s total liquid foreign exchange reserves fell sharply by $ 531 million during last week due to external debt servicing.

According to a weekly report issued by the State Bank of Pakistan (SBP) on Thursday, the total liquid foreign exchange reserves held by the country stood at $ 13.534 billion as of July 21, 2023 compared to $14.065 billion on July 14, 2023.

During the week under review, the SBP’s reserves decreased by $ 541 million to $ 8.186 billion, mainly due to external debt repayments. Net forex reserves held by commercial banks rose by $ 10 million to $ 5.348 billion by the end of last week.

Copyright Business Recorder, 2023