Pakistan’s reserves drop by $138 million

Pakistan’s reserves drop by $138 million

Foreign Exchange News

KARACHI: The country’s foreign exchange reserves dropped last week due to
heavy outflows, Business92 reported Thursday.

The central bank statistics showed that forex reserves have decreased by $138
million and currently stands at $24.189 billion in the week ended October 28th.

The State Bank of Pakistan (SBP) has $19.13 billion in reserves while
commercial banks possess $5.05 billion.

The central bank said foreign exchange reserves have wiped off mainly
due to external debt servicing and other payments.

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