Forex reserves fall to $16.705bln

KARACHI: Pakistan’s foreign exchange reserves declined to $16.705 billion in the week ended June 5 from $16.920 billion a week ago, the central bank reported on Thursday.

The State Bank of Pakistan’s forex reserves decreased $266 million to $10.095 billion in the week under review.

“This decline is attributed to government’s external debt repayments of $301 million,” the SBP said in a statement. The foreign exchange reserves held by commercial banks rose to $6.609 billion from $6.558 billion.

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