KARACHI: Foreign exchange reserves of the State Bank of Pakistan (SBP) fell by $241 million to $17.095 billion during the week ended on Feb 11, announced the central bank on Thursday.

The foreign exchange reserves of the SBP improved with inflows of $1bn each from the IMF and proceeds of Sukuk, but the growing need for debt servicing is causing the decline in the reserves.

During the week, the country’s overall reserves dipped by $231m to $23.490bn, while the forex holdings of the commercial banks eased to $6.394bn.

Published in Dawn, February 18th, 2022