KARACHI: The country’s total liquid foreign exchange reserves reached below $ 23 billion at the end of last week.

According to the State Bank of Pakistan (SBP) weekly report issued on Thursday, the total liquid foreign exchange reserves held by the country stood at $ 22.875 billion as of February 25, 2022 compared to $ 23.226 billion a week earlier, depicting a decline of $351 million.

During the week under review, SBP reserves decreased by $ 344 million to $ 16.462 billion down from $16.806 billion. Overall, during the last two weeks, Pakistan’s total liquid foreign exchange reserves fell sharply $633 million due to external payments.

During the week ended on Feb 25, 2022, net foreign reserves held by commercial banks stood at $ 6.413 billion, down $ 6.7 million.