State Bank of Pakistan’s forex reserves fall $6mn

State Bank of Pakistan’s forex reserves fall $6mnMay 5, 2023Islamabad, May 5 (IANS) The State Bank of Pakistan (SBP) said its foreign exchange reserves had decreased by $6 million.During the week ending on April 28, the total foreign exchange reserves of the Pakistani central bank fell to around $4.5 billion, the SBP said in a statement on Thursday night.Net foreign reserves held by commercial banks came at nearly $5.6 billion, Xinhua news agency quoted the central bank as saying.Total liquid foreign reserves held by Pakistan stood at about $10 billion, according to the SBP.Pakistan has been facing a shortage in its foreign exchange reserves for quite some time, which is affecting the overall exchange rate, and business and economic activity in the South Asian country.–IANSksk/https://ians.in/news/state-bank-of-pakistan-s-forex-reserves-fall-6mn/C-1-1588763.html