SBP-held foreign exchange reserves increases by $56million

The State Bank of Pakistan (SBP) foreign exchange holdings increased by $56 million to 7,695.3 million during the last week.

The total liquid foreign reserves held by the country stood at US$ 13,186.6 million as of 15-Sep-2023. The break-up of the foreign reserves position is as under:

Foreign reserves held by the State Bank of Pakistan: US$ 7,695.3 million

Net foreign reserves held by commercial banks US$ 5,491.3 million. The total liquid foreign reserves US$ 13,186.6 million.

Earlier¸ the State Bank of Pakistan's (SBP) foreign exchange holdings dropped by $140 million on a weekly basis, reaching $7.64 billion.

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.