Pakistan Foreign Exchange Reserves held by SBP register decline

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Pakistan Foreign Exchange Reserves held by SBP register decline

KARACHI: *Pakistan Foreign Exchange Reserves held by State Bank of Pakistan register decline.*

Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $85 million to $10,889.2 million during the week ending April 17, 2020, according to data released by the central bank on Thursday.

The decline is attributed to government external debt payments of $145 million, the central bank said.

Net foreign reserves held by commercial banks, however, increased marginally, from $6,320.9 million to $6,411.1 million.

The total liquid foreign reserves held by the country fell from $17,295.5 million in the last week to $17,300.3 million during the week under review.

SBP reserves had momentarily risen by $252 million to $10,974.6 million during the week ending April 10, 2020. This was the first time reserves had risen since March 13.