RECORDER REPORT

KARACHI: The country’s liquid foreign exchange reserves maintained downward journey falling by $172 million in a week due to external debt payment.

According to State Bank of Pakistan’s weekly foreign exchange reserves report issued Thursday, the country’s total liquid forex reserves stood at $19.183 billion as on Feb 2, 2018 compared to $19.355 billion on Jan 26, 2018.

During the period under review, reserves held by the SBP witnessed a downward trend, while banks’ reserves slightly increased. During the week, the SBP’s reserves decreased by $173 million to $13.06 billion down from $13.234 billion a week earlier. The decline in the SBP’s reserves occurred due to external debt servicing and other official payments.

Similarly, reserves held by banks increased by $2 million to $6.122 billion as on Feb 2, 2018 up from $6.120 billion a week earlier.