Foreign exchange Reserves drops by Dollar 469million – Alfalah Securities Limited

Karachi, June 08, 2012 (PPI-OT): Pakistan’s foreign exchange reserves have been witnessing a downward trend owing to hefty debt repayments and payments against commodity imports.

According to Alfalah Securities Limited, Fx reserves have dropped by 2.93%WoW or USD 469 mn to USD 15.536 bn in the week ending May 31, 2012 from USD 16.005 bn in the previous week. Reserves held by the State Bank of Pakistan (SBP) dipped by 3.89%WoW or USD 455 mn to USD 11.243 bn from USD 11.698 bn, and reserves of commercial banks witnessed a slight decline of 0.35%WoW or USD 15 mn to USD 4.29 bn from USD 4.307 bn in the previous week.

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