SBP-held foreign exchange reserves stand at $7.64 bn

Islamabad: The State Bank of Pakistan's (SBP) foreign exchange holdings dropped by $140 million on a weekly basis, reaching $7.64 billion as of September 8.

The overall amount of liquid foreign reserves held by the country as of Thursday, according to the report, was $13.08 billion.

Moreover, Commercial banks held $5.44 billion in net foreign reserves.

The decline in foreign currency reserves was attributed by the central bank to debt repayments.

The SBP reported that due to debt repayments, for the week ending on September 8, 2023, "SBP's reserves decreased by $140 million to $7,638.9 million."

The SBP's reserves decreased by $70 million last week. The amount of dollars held by the central bank has decreased by a total of $416 million during the past four weeks.