ISLAMABAD – Foreign exchange reserves of State Bank of Pakistan (SBP) have registered significant decline.
As per the media report the SBP reserves dropped by US$627 million to US$8.049 billion on Thursday.
Overall Pakistan’s foreign exchange reserves reached US$14.893 billion with reserves at other banks remaining unchanged at US$6.485 billion.
According to the central bank, reserves fell due to external debt servicing and other official payments.
On September 13, Pakistan’s foreign exchange reserves had dropped by US$300 million.
As per the details, the country’s foreign exchange reserves stood around $16.070 billion, whereas, the central bank’s reserves declined $261 million to $9.624 billion.