Forex reserves drop to $19.746 billion

KARACHI: Pakistan’s foreign exchange reserves fell to $19.746 billion during the week, ended November 6, 2015 from $19.811 billion in the previous week, the State Bank of Pakistan (SBP) said on Thursday.

The foreign reserves of the State Bank saw a decrease of $117 million to stand at $14.704 billion against $14.821 billion a week earlier.

The decline in reserves is mainly attributed to payments of $108 million on account of external debt servicing.

The reserves held by commercial banks slightly rose to $5.042 billion as compared to $4.990 billion during the preceding week.

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