Forex: Reserves decline to $17.16b

KARACHI: Foreign exchange reserves declined slightly to $17.16 billion in the week ended on June 4, 2011, down from $17.34 billion in the previous week, according to State Bank of Pakistan (SBP) data released on Thursday. Reserves held by the SBP declined to $13.73 billion from $13.91 billion a week ago, while those held by commercial banks inclined slightly to $3.44 billion from $3.43 billion. The decline in reserves was attributed to debt payments as per routine, analysts said.

Published in The Express Tribune, June 10th, 2011.