Pakistan Foreign Exchange Reserves register decline yet again
The State Bank of Pakistan released their Liquid Foreign Exchange reserves report on Thursday, October 8, 2020, showing a decline of $183 million, or 0.93 percent, by 2 October 2020.
The total liquid foreign exchange reserves held by the country stood at $19.351 billion, compared with $19.534 billion in the previous week. While the net reserves with the SBP dropped from $12.359 billion to $12.154 billion.
“SBP made external debt repayment of $580 million. After accounting for official inflows, including $300 million received from [the] Asian Development Bank (ADB), [the] SBP reserves decreased by $205 million to $12,154.7 million,” the central bank said in a statement.
The foreign exchange reserves of commercial banks; however, marginally rose from $7.175 billion to $7.196 billion.