Forex reserves fall by $13.8mn to $20.1bn

ISLAMABAD: Pakistan’s forex reserves fell by $13.80 million (-0.07 percent) to $20.10 billion by week ended on January 22, 2021, State Bank of Pakistan (SBP) said on Thursday.
According to data published by the State Bank of Pakistan (SBP), the official reserves of SBP also fell by $15.4 million to $12.998 billion by week ended January 22, 2021 as compared with $13.013 billion on January 15, 2021.
The foreign exchange reserves maintained by commercial banks increased to $7.108 billion by week ended on January 22, 2021 as compared with $7.106 billion a week ago.
The foreign exchange reserves of the country stood at $20.12 billion by week ended on January 15, 2021.
Meanwhile, Pakistani rupee gained 26 paisas (+0.16 percent) against the US dollar in the interbank on Thursday.
According to the State Bank of Pakistan, the US dollar was opened at Rs160.54 and closed at Rs160.28. The local currency gained Re0.47 against the dollar during the last four days.
Currency dealers said that the market witnessed better supply of the greenback that helped the local currency to make gain. The dealers expected the better inflows likely to help the local currency to make further gain in coming days. – TLTP