Forex reserves decline

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KARACHI: The foreign exchange reserves have declined by $166 million to $13.208 billion during the week ended December 20 from $13.374 billion in the previous week, according to the State Bank of Pakistan (SBP) on Thursday.

A latest break-up of the foreign exchange reserves showed that reserves held by the central bank increased by $73 million to $8.587 billion against $8.514 billion a week ago.

Net foreign exchange reserves held by commercial banks amounted to $4.621 billion as of December 20 as compared to $4.860 billion last week, it added.

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