SBP foreign exchange reserves fall to $18.1bn

SBP foreign exchange reserves fall to $18.1bn

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KARACHI: State Bank of Pakistan’s (SBP) foreign exchange reserves decreased by 2.23% on a weekly basis, data released by the central bank showed on Thursday.

On December 17, the foreign currency reserves held by the central bank were recorded at $18,153.7 million, down by $415 million compared with $18,568.3 million on December 10.

The central bank cited foreign debt repayment as the reason for the weekly decline.

At the same time, the country’s overall current foreign exchange reserves, including net reserves held by banks other than SBP, were US$24.633 billion. The net reserve held by the bank was US$6.4793 billion.

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