Forex reserves fall to $10.5 billion

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KARACHI: Pakistanís foreign exchange reserves eroded sharply by $457 million to $10.543 billion as of July 5, the central bank said on Thursday. The forex reserves amounted to $11 billion during the previous week.

The foreign exchange reserves of the State Bank of Pakistan (SBP) dipped by $454 million to $5.546 billion from $6 billion a week earlier.

Net foreign exchange reserves held by commercial banks remained unchanged at $4.997 billion during the week ended July 5, it added.

Courtesy: †The News

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