Pakistan Foreign Exchange reserves register big decline

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Pakistan Foreign Exchange reserves register big decline

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $463 million to $10,722.5 million during the week ending April 3, 2020, according to data released by the central bank on Thursday.

This decline is attributed primarily to the government’s external debt payments, which amounted to $465 million, the central bank said.

Net foreign reserves held by commercial banks, however, marginally increased, from $6,201.9 million to $6,265.7million

The total liquid foreign reserves held by the country dropped from $17,387.5 million to 16,988.2 million.