Forex reserves fall for 5th week to $10.09bn

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KARACHI: The foreign exchange reserves of the central bank decreased for the fifth straight week by 0.74 percent on a weekly basis to $10,088.6 million. According to data released by the SBP on Thursday, the foreign currency reserves held by it were recorded at $10,088.6 million on May 20, down $75 million as compared to $10,163.6 million on May 13. According to the central bank, the decrease came due to external debt repayment. Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $16,149.8 million. Net reserves held by banks amounted to $6,061.2 million, according to the central bank.