State Bank of Pakistan's forex reserves fall $6mn

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State Bank of Pakistan's forex reserves fall $6mn

May 05, 2023
Updated: 01:36 pm

State Bank of Pakistan's forex reserves fall $6mn

Islamabad, May 5 : The State Bank of Pakistan (SBP) said its foreign exchange reserves had decreased by $6 million. During the week ending on April 28, the total foreign exchange reserves of the Pakistani central bank fell to around $4.5 billion, the SBP said in a statement on Thursday night. Net foreign reserves held by commercial banks came at nearly $5.6 billion, Xinhua news agency quoted the central bank as saying. Total liquid foreign reserves held by Pakistan stood at about $10 billion, according to the SBP. Pakistan has been facing a shortage in its foreign exchange reserves for quite some time, which is affecting the overall exchange rate, and business and economic activity in the South Asian country. /IANS

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