Friday, February 28, 2020

Pakistan’s foreign exchange reserves declines by $232 million on debt servicing

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Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
Pakistan’s total foreign exchange reserves fell by $232 million during a week over repayment of foreign debts, State Bank of Pakistan (SBP) said on Thursday.

 

The total foreign exchange reserves of the country have fallen by $232 million to $13,257.2 billion by week ended January 18, 2019 as compared with $13.489.2 billion in the preceding week.

 

The official reserves of the SBP decreased by $256.1 million to $6,636.1 billion as against $6,901.2 billion.

 

The central bank said that the official reserves had fallen due to external debt servicing and other official payments.

 

The reserves held by commercial banks increased by $33.1 million to $6,621.1 billion as compared with $6,588 billion.

Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

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