SBP Reserves Fall By $541 Million to $8.18 Billion
According to data issued by the State Bank of Pakistan (SBP) on Thursday, the foreign exchange reserves held by the central bank decreased by more than $500 million on a weekly basis.
The SBP’s foreign exchange holdings were valued at $8.186 billion on July 21, down $541 million from the previous day’s $8.727 billion total. The decline, according to a statement from the central bank, was mostly brought on by payments made on foreign debt.
The nation’s total liquid foreign currency holdings, which include net reserves held by institutions other than the SBP, were $13.534 billion, a $531 million decrease from the previous week. At $5.348 billion, banks’ net reserves increased by $10 million over the past year.
The central bank’s reserves increased by nearly $4 billion to $8.7 billion over the previous week as a result of inflows from Saudi Arabia, the United Arab Emirates (UAE), and the International Monetary Fund (IMF).
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