Forex reserves down by $1.68b

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Staff Reporter

Karachi

The liquid foreign exchange reserves of the country fell by $1.68 billion to $16.92 billion by week ended May 29, 2020, State Bank of Pakistan (SBP) released the data on Thursday. Total foreign exchange reserves of the country were $18.599 billion a week ago.
Foreign exchange held by the central bank fell by $1.712 billion to $10.362 billion by week ended May 29, 2020 as compared with official reserves of $12.074 billion. The decline was primarily attributed to the government external debt repayments of $1.669 billion. Foreign exchange held by commercial banks however increased by $34 million to $6.558 billion by week ended May 29, 2020 as compared with $6.524 billion a week ago.