KARACHI: The State Bank of Pakistan (SBP) has reported a decrease in Pakistan’s foreign reserves, which now stand at US$ 8,012.8 million, following a decline of US$ 44 million.
According to a statement released today, the central bank’s spokesman said that the country’s total liquid foreign reserves amounted to US$ 13,097.8 million for the week ending on February 16, 2023, compared to US$ 13,149.1 million for the week ending on February 9.
The SBP attributed the decrease in its reserves to debt repayments during the period. Concurrently, commercial banks maintained net foreign reserves of US$ 5,085.0 million.
A previous report on February 15 indicated that the SBP’s foreign exchange reserves had increased to US$ 8,056.5 million as of February 9, 2024, reflecting a rise of US$ 13 million. During the same period, the country’s total liquid foreign reserves were reported at US$ 13,149.1 million.
The SBP further specified that commercial banks hold US$ 5,092.6 million as net foreign reserves, contributing to the overall foreign reserve holdings of Pakistan.
