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Reserves down by $170mn in a week due to external debt-servicing, imports

KARACHI: The State Bank of Pakistan in its weekly report on foreign exchange reserves has reported a decline of $170mn in the reserves, primarily because of payments in lieu of external debts and other payments including imports.  On December 21, 2018, the reserves held by the central bank stood at $7.457bn whereas the forex reserves available with the commercial banks were at $6.560bn level. However, due to debt-servicing and other payments amounting up to $170mn, the SBP reserves on December 28 2018 came down to…