Reserves drop by $245.4m

KARACHI: Pakistan’s total liquid foreign exchange reserves amounted to $21.5 billion on March 31, down $245.4 million or 1.12 per cent from a week ago, the State Bank of Pakistan (SBP) said on Thursday.

The SBP’s reserves decreased $264m to $16.4m. The decrease is mainly attributed to external debt servicing and other official payments.

Net foreign exchange re­ser­ves held by commercial banks amounted to $5bn on March 31, slightly up from the preceding week.

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