FX reserves drop by $264mn in a week

By MG News | February 24, 2022 at 11:45 PM GMT+05:00

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February 24, 2022 (MLN): The total liquid foreign exchange reserves held by the country dropped by $264 million or 1.1% WoW to stand at $23.2 billion during the week ended on February 18, 2022, compared to $23.49bn in the previous week, weekly data released by the State Bank of Pakistan (SBP) on Thursday showed.

The data further revealed that reserves held by the central bank during the week declined by $289mn or 1.7% WoW to $16.8bn.

However, the reserves of commercial banks inched up slightly by $25mn or 0.4% WoW to $6.4bn from $6.39bn in the previous week.

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