*KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves fellby US$145 million in a week, data released by the central bank showed onFriday.*
On May 13, the foreign currency reserves held by the SBP were recorded at$10,163.6 million, down $145 million compared with $10,308.7 million on May6.
The central bank gave no reason for the decline in the reserves.
Total liquid foreign #reserveslink held bythe country stood at US$ 16.16 billion as of May 13, 2022. For details:link link
— SBP (@StateBank_Pak) May 20, 2022link
The country’s total foreign reserves, including net reserves of commercialbanks, stood at $16, 161 million, the central bank said.
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Net reserves held by banks amounted to $5,997.4 million.
On the other hand, the rupee’s downward trajectory against the US dollar inthe interbank market continued on Friday as the greenback gained Rs0.40 inintraday trading.
According to the Forex Association of Pakistan (FAP), the US dollar gainedRs0.40 in the interbank market from the previous day’s close of Rs200 andclimbed to Rs200.40 around 11:20 am.
The greenback was trading at Rs201.50 in the open market.
