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Pakistan

Foreign exchange reserves drop to $18.1 billion

The central bank cites external debt repayments as a reason behind the weekly decline.

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Foreign exchange reserves drop to $18.1 billion
GNN Media: Representational Photo

The foreign exchange reserves of the State Bank of Pakistan’s (SBP) plunged by 2.23% on a weekly basis.

According to the data released by the central bank 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 external debt repayments as a reason behind the weekly decline.

Meanwhile, overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $24,633 million. Net reserves held by banks amounted to $6,479.3 million.

The total liquid foreign reserves held by the country stood at US$ 24,633.0 million on 17-December-2021. 

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