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Foreign exchange reserves slip to $14.827b

Foreign exchange reserves slip to $14.827b

KARACHI: The total foreign exchange reserves of the country have slipped by $63 million to $14.827 billion by week ended June 03, 2019 as compared with $14.89 billion as on May 31, 2019, State Bank of Pakistan (SBP) said on Thursday.

The official foreign exchange reserves of the SBP reduced by $55 million to $7.807 billion by week ended June 03, 2019 as compared with $7.862 billion on May 31, 2019.

The central bank said that its reserves were declined due to payments on account of external debt servicing. The reserves held by commercial banks also fell by $8 million to $7.019 billion from $7.027 billion.