Forex reserves drop by $131million

Arif Habib Limited (AHL) Thursday revealed that the total foreign exchange reserves in the treasury dropped by $131million, the 24NewsHD TV channel reported.

The report stated that the State Bank of Pakistan (SBP) has a total forex reserve of $7.9billion left after paying off a $125million external debt in a week.

The forex reserves of commercial banks, however, dropped by $6million with a total of $5.31billion remaining.

It also stated that the total foreign exchange reserves in the national treasury dropped by $131million dropping the amount to $13.2 billion.

The report stated that 1.76 months of import can be covered with the forex reserves remaining in SBP.