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Foreign exchange reserves fell by $264 million in a week

State Bank of Pakistan
State Bank of Pakistan

KARACHI: Foreign exchange reserves held by State Bank of Pakistan have further decreased by $264 million in one week.

During the week ending October 19, 2018, SBP’s reserves decreased by US$264 million to US$7,825 million, due to external debt servicing and other official payments.

The total liquid foreign reserves held by the country stood at US$14,295.8 million on the same date.

Currently, foreign reserves held by the State Bank of Pakistan stand at US$7.82 billion.

Net foreign reserves held by commercial banks stood at US$6.47 billion. Thus, total liquid foreign reserves stand at US$ 14.29  billion.

Analysts are of the view that forex reserves situation will improve as Saudi Arabia has agreed to provide bailout package of $6.0 billion to Pakistan.

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