RECORDER REPORT

KARACHI: The country’s total liquid foreign exchange reserves declined by over $ 301 million during last week due to external debt servicing.

According to State Bank of Pakistan’s weekly foreign exchange report issued Thursday, the total liquid forex reserves held by the country stood at $ 16.084 billion as on July 6, 2018 compared to $ 16.385 billion on June 29, 2018.

During the week under review, SBP’s reserves decreased by $ 309 million to $ 9.480 billion, due to external debt and other official payments. However, reserves held by the banks increased by $ 8 million to reach $ 6.605 billion at the end of last week.