Foreign exchange: SBP’s reserves continue to drop, stand at $13.85b

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

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) continued their downward trend, decreasing 0.68% on a weekly basis, according to data released by the central bank on Thursday.

On October 27, foreign currency reserves held by the central bank were recorded at $13,846.7 million, down $94.9 million or 0.68% compared to $13,941.6 million in the previous week, according to the central bank.



Total liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $19,842.8 million. Net reserves held by banks amounted to $5,996.1 million. The decrease in reserves was attributed to payments on account of external debt servicing.

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

Published in The Express Tribune, November 3^rd, 2017.

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