SBP reserves fall $125m to $19.2b

The foreign exchange reserves held by the central bank fell 0.65% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday.

On October 1, the foreign currency reserves held by the SBP were recorded at $19,169.1 million, down $125 million compared with $19,294.5 million on September 24.

The central bank cited no reason behind the decrease in the reserves.

Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $25,999.9 million. Net reserves held by banks amounted to $6,830.8 million.

Earlier in the week ended on August 27, the foreign exchange reserves held by the central bank soared to an all-time high of $20.15 billion after Pakistan received general allocation of Special Drawing Rights (SDRs) worth $2,751.8 million from the International Monetary Fund (IMF) on August 24.

Published in The Express Tribune, October 8^th, 2021.

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