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Foreign exchange reserves lowered by $148.5 million

ISLAMABAD: The foreign exchange reserves of Pakistan have decreased further to the lowest level of last 7.5 years with the decline of $148.5 million in a week, ARY News reported.

The weekly statement of State Bank of Pakistan (SBP) revealed that the total liquid foreign reserves of the country stand at dollars 8.16804 billion for the week ended on January 17, 2014.

Furthermore, during the week ending January 17, 2014, the SBP's liquid foreign exchange reserves decreased by $ 145 million to $ 3,322 million compared to $ 3,467 million in the previous week.

SBP termed that the decrease in the Central Bank reserves is mainly due to the interest on external debt servicing and other official payments. Meanwhile there was any inflow from multilateral and bilateral sources during the week.

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