KARACHI: The official foreign exchange reserves of the State Bank of Pakistan (SBP) fell $869 million on a weekly basis, according to a statement issued on Thursday.

The foreign exchange reserves of the central bank fell to $14.963 billion by the week ended March 18, 2022, compared with $15.832 billion a week ago.

The SBP attributed the decline in the foreign exchange reserves to external payments.

The total foreign exchange reserves of the country fell $843 million to $21.44 billion by the week ended March 18, 2022, compared with $22.283 billion a week ago.

The foreign exchange reserves held by commercial banks witnessed a nominal increase of $24 million to $6.477 billion by the week ended March 18, 2022, compared with $6.453 billion a week ago.

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