Forex reserves declined to USD 14.333 billion – Alfalah Securities Limited

Karachi, November 02, 2012 (PPI-OT): Pakistan’s foreign exchange reserves have dropped by USD 56 million to USD 14.333 billion during the week ended October 26, 2012 from USD 14.389 billion in the previous week, according to the State Bank of Pakistan.

According to Alfalah Securities Limited, Forex reserves held by the central bank decreased by USD 23 million to USD 9.806 billion as compared to USD 9.829 billion last week while the reserves held by commercial banks dropped by USD 33 million to USD 4.527 billion as against USD 4.56 in the previous week. The drop in forex reserves is mainly attributed to payment of foreign obligations related to foreign debt and imports during the week.

You May Also Like

Leave a Reply