The foreign exchange reserves held by the central bank decreased 4 percenton a weekly basis, according to data released by the State Bank of Pakistan(SBP) on Thursday.
On July 15, the foreign currency reserves held by the SBP were recorded at$9.329 billion, down $389 million compared to $9.718 on July 7 mainly dueto due to external debt payments.
Overall liquid foreign currency reserves held by the country, including netreserves held by banks other than the SBP, stood at $15.242 billion. Netreserves held by banks amounted to $5.913 billion, registering an increaseof $20 million.
The reserves held by the central bank have been on a downward trajectory inrecent weeks since the inflow of proceeds of the Chinese Consortium loanamounting to RMB 15 billion (roughly $2.3 billion) temporarily pushed thereserves above $10 billion on June 24.
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The Pakistani Rupee (PKR) dipped to a new low against the US Dollar (USD)and closed at Rs. 226.81 after losing Rs. 1.89 in the interbank market.
