*KARACHI: Foreign exchange reserves of the State Bank of Pakistan (SBP)declined by $190 million during the week ended on July 29.*
Sharing a break-up of the foreign reserves position, the central bank saidthat the reserves held by the State Bank of Pakistan stand at $8,385.4million.
According to central bank, the overall liquid foreign currency reservesheld by the country, including net reserves held by banks other than theSBP, stood at $14,208 million. Net reserves held by banks amounted to$5,823.3 million.
The SBP cited the decline in reserves due to “external debt and otherpayments”.*Rupee continues downward trajectory*
The US dollar continued its declining trend in the interbank and openmarket on Thursday after the greenback saw a historic decline of over Rs9on Wednesday.
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According to forex dealers, the US dollarlink slipped by Rs4.02 at thestart of the day to trade at Rs224.78 as the banks sold it at Rs226.28.
In the open market, the greenback traded between Rs223 and Rs224.
