Forex reserves drop to $22bn in a week

MG News | February 03, 2022 at 10:46 PM GMT+05:00

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February 3, 2022 (MLN): The foreign exchange reserves held by the country dipped by $395.5 million or 1.75% WoW to stand at $22.08 billion during the week ended on January 28, 2022, compared to $22.48bn in the previous week, weekly data released by the State Bank of Pakistan (SBP) showed on Thursday.

As per the data, the reserves held by the central bank during the week decreased by $462mn or 2.85% WoW to $15.72bn due to external debt and other payments.

On the other hand, the reserves of commercial banks increased by $67mn or 1% WoW to $6.35bn from $6.29bn in the previous week.

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