Forex reserves dip

Foreign exchange reserves of Pakistan declined by 32 million dollars to 17.637 billion dollars.

According to an announcement by State Bank of Pakistan (SBP) here on Thursday, the forex reserves were 17.95 billion dollars on March 26 and dwindled to 17.637 billion dollars on April, 2.

“Scheduled debt servicing is the major reason for the decline in forex reserves,” said chief spokesperson of SBP here while talking to APP.

“It is routine business of affairs,” he pointed out.

Breakup of statistics further showed that the forex reserves held by SBP were dollars 14.26 billion and held by banks were dollars 3.37 billion.