Slight decline in foreign exchange reserves: State Bank releases latest data

According to the latest data released by the State Bank of Pakistan, the country’s total foreign exchange reserves have seen a slight decline during the last business week.

According to the state bank’s announcement, the total foreign exchange reserves decreased by $10.4 million to $21.01 billion in the week ending December 26.

According to the data, the State Bank of Pakistan recorded an increase of $12.6 million in its own reserves, after which the central bank’s reserves reached $15.91 billion, however, the reserves of commercial banks decreased by $23 million and came to $5.09 billion.

According to economists, the main reason for the decline in total reserves is external payments and import bills.

Economic analysts say:

“The increase in the central bank’s reserves is an indication that the State Bank has been able to maintain its position stable, however, there is a need to monitor the decline in the reserves of commercial banks.”

According to experts, there is a possibility of an improvement in the reserves in the coming weeks due to remittances and possible external financing