SBP Foreign Exchange Reserves Fall

The SBP foreign exchange reserves fell by an additional $70 million on a weekly basis. according to information made public by the State Bank of Pakistan (SBP) on Thursday.

SBP Foreign Exchange Reserves Fall

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The SBP foreign exchange reserves were $7.849 billion on August 25 as compare to $7.779 billion on September 1 , a decrease of $70 million.The central bank stated in a statement that debt repayments were the primary cause of the fall.

With net reserves owned by banks other than the SBP included, the nation’s total liquid foreign currency reserves were at $ 13.127 billion, down $44 million from the previous week. The net reserves maintained by banks were $5.347 billion, up $26 million over the course of the week.

The weekly fall is the fifth in the previous seven weeks. Since July 14, when reserves were at $8.727 billion, the central bank’s holdings had decreased by around $950 million.

Pakistan foreign reserves detail: https://www.sbp.org.pk/ecodata/forex.pdf

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