RECORDER REPORT

KARACHI: The country’s foreign exchange reserves maintained downward journey and further declined by $206 million to reach below $22 billion during last week.

According to State Bank of Pakistan’s (SBP) weekly report issued Thursday, Pakistan’s total liquid foreign exchange reserves decreased to $ 21.825 billion as on Feb 10, 2017 compared to $ 22.031 billion as on Feb 3, 2017. The decline has been witnessed due to government of Pakistan’s debt payment.

During the week under review, the SBP’s liquid forex reserves fell by $ 224 million to $ 16.993 billion down from $ 17.218 billion last week. However, reserves held by banks surged by $ 18 million to $ 4.831 billion at the end of the week.