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KARACHI
(December 19 2003): Due to heavy payment of Pakistan's
Eurobond, the country's foreign exchange reserves have dropped
by 8 million dollars and the reserves of the State Bank also
declined significantly. |
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The country's forex reserves
slipped to 11.866 billion dollars from earlier 11.874 billion dollars.
The reserves of the State Bank declined by 58 million dollars from 10.341
billion dollars to 10.283 billion dollars.
"The decline was due to 176 million dollars payment of Eurobonds last week,"
said Syed Wasimuddin, Chief Spokesman of the State Bank.
However, the commercial banks made a good recovery and added 50 million dollars
to augment their total to 1.583 billion dollars.
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