Pakistan Foreign Exchange Reserves Register decline

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Pakistan Foreign Exchange Reserves Register decline

KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by $205 million to $12.15 billion during the week ended on 2nd of October, ARY News reported.

According to the central bank’s weekly report, its reserves dropped to $12,154.7 million. The central bank attributed the decrease to government external debt payments of $580 million.

“After accounting for official inflows, including US$ 300 million received from Asian Development Bank (ADB), SBP reserves decreased by $205 million to $12,154.7 million” read the statement.

Detailing the position of the reserves, the SBP said that the overall foreign reserves of the country stood at $19.35 billion. The central bank said that the commercial banks currently held the foreign reserves of $7.19 billion.

Read More: SBP reserves fall by $342mn to $12.3bn link

Earlier on October 1, foreign exchange reserves held by the State Bank of Pakistan (SBP) had decreased by $342 million to $12.35bn during the week ended on 25thof September.

The central bank had attributed the decrease to government external debt payments of $311 million.

Detailing the position of the reserves, the SBP had said that the overall foreign reserves of the country stood at $19.53 billion.