Forex reserves fall to $13.597 billion

KARACHI: Pakistan’s foreign exchange reserves dropped 1.74 percent, or $240 million, during the week ended January 4, the central bank reported on Thursday.

The foreign exchange reserves stood at $13.597 billion, compared with $13.837 billion in the previous week.

The foreign currency reserves held by the State Bank of Pakistan declined $239 million to $7.048 billion, amid external debt servicing and other official payments, the central bank said in a statement. The foreign exchange reserves held by commercial banks inched down to $6.548 billion from $6.550 billion in the preceding week.