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Foreign reserves

Pakistan’s foreign reserves plunge US$389m to $14.86 billion

KARACHI: Pakistan’s foreign reserves decreased by US$389 million to $14.86 during the week ending on July 19. According to the State Bank of Pakistan (SBP), the total liquid foreign reserves held by the country stood at US$14.86 billion. The break-up of the foreign reserves position is as follow: Foreign reserves held by the SBP: $7.61 billion Net foreign reserves held by commercial banks: $7.25 billion Total liquid foreign reserves: $14.86 The central bank said the SBP reserves plunged $389 million to…