Pakistan Foreign Exchange Reserves register decline yet again

Shares
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.