Forex reserves drop to $24bln

KARACHI: Pakistan’s foreign exchange reserves declined by $58 million to $24.096 billion during the week ended November 11, the State Bank of Pakistan (SBP) said on Thursday. The forex reserves amounted to $24.153 billion a week ago. The central bank attributed decline in forex reserves to payments on account of external debt servicing. The foreign exchange reserves held by the SBP fell to $19.027 billion from $19.075 billion in the previous week. The reserves of commercial banks stood at $5.068 billion against $5.07 billion during last week.