Forex reserves decline to $17.975 billion

KARACHI: The country’s foreign exchange reserves declined to $17.975 billion in the week ending on August 6, 2011, as compared to $18.312 billion in the previous week, figures released by State Bank of Pakistan said Thursday.

The overall reserves showed a decline of $337 million during the week. The reserves held by central bank showed a decline of $313 million to stand at $14.465 billion, as compared to $14.778 billion in the last week, similarly the reserves held by banks other than SBP recorded a decline of $24 million to stand at $3.51 billion as compared to $3.534 billion last week.

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