SBP's foreign exchange reserves plunge 4.44%, amount to $15.48b

Central bank gives no reason for the decrease

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 4.44% on a weekly basis, according to data released on Thursday.

On July 14, the foreign currency reserves held by the central bank were recorded at $15,478.5 million, down $718.8 million or 4.44%, compared to $16,197.3 million in the previous week, according to the central bank.

No reason was stated by the central bank for the decrease.

Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $ 20,830 million. Net reserves held by banks amounted to $5,351.5 million.



Three weeks ago foreign reserves increased due to official inflows including $622 million from ADB and $106 million from World Bank.

Earlier, the SBP received $350 million under the CSF and made payments of $62 million for external debt servicing.

In January, the SBP made a loan repayment of $500 million to the State Administration of Foreign Exchange (SAFE), China.