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Foreign exchange reserves decrease by 5.8% in a week: State Bank

KARACHI: Despite so many claims by the PMLN led Federal government that we have increased the foreign exchange reserves Pakistan’s total  foreign exchange reserves amounted to $20.51 billion on June 2, decreased $1.25bn or 5.76 per cent from a week ago, the State Bank of Pakistan  said on Thursday.

Reserves of the State Bank of Pakistan decreased $1.21bn to $15.7bn during the week. The SBP made payments of $1.24bn on account of external debt servicing, which included principal repayment of $750 million against the Pakistan Sovereign Bond.

Net foreign exchange reserves held by commercial banks amounted to $4.8bn on June 2, down 0.81pc from the preceding week.

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Azhar Hashmi

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