Forex reserves drop by $131million: SBP

Karachi: Arif Habib Limited (AHL) revealed that the total foreign exchange reserves in the treasury dropped by $131million on Thursday.

According to the report, the State Bank of Pakistan (SBP) still has $7.9 billion in foreign exchange reserves after paying off a $125 million external loan in a single week.

However, the commercial banks' foreign exchange reserves decreased by $6 million, leaving them with $5.31 billion in total.

Additionally, it said that the national treasury's overall foreign exchange reserves decreased by $131 million, coming to $13.2 billion.

As per details, the 1.76 months of import can be covered with the forex reserves remaining in SBP.