Pakistan’s forex reserves fall to $17.492 billion
KARACHI: Pakistan’s foreign exchange reserves declined to $17.494 billion during the week ended May 22, 2015 in the wake of debt repayment made to the International Monetary Fund (IMF) under the standby arrangement loan facility, according to a Press release issued by State Bank of Pakistan
Forex reserves stood at $17.749 billion during the week. Foreign currency holdings of the State Bank of Pakistan decreased by $228 million to $12.284 billion as compared to $12.512 billion a week ago. During the week, State Bank of Pakistan made payment of $136 million to the IMF as the last installment under the standby arrangement facility.
Net foreign exchange reserves held by commercial banks amounted to $5.209 billion as against $5.237 billion during the preceding week. the Press release added.
