Friday, August 19, 2022

Pakistan’s foreign exchange reserves depletes by $567 million to $14.017.8 billion


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]

KARACHI: The foreign exchange reserves of the country depleted by $567 million to $14.017.8 billion by week ended December 27 as compared with $14.584 billion in the preceding week, State Bank of Pakistan (SBP) said on Thursday.

The official reserves held by SBP declined by $591 million to $7.457 billion by week under review as compared with $8.048 billion in the preceding week.

The reserves of the central bank depleted due to external debt servicing and other official payments, the SBP said.

The foreign exchange held by commercial banks also eased by $24.3 million to $6.560 billion as against $6.536 billion.

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