Alarming level: SBP reserves fall $106mn to $7.9bn

KARACHI: The foreign exchange reserves held by the central bank fell by $106 million during the week ended on September 30, 2022, according to data released by the State Bank of Pakistan (SBP) on Thursday.

Sharing a break-up of the foreign reserves position, SBP said that the foreign currency reserves held by the central bank were recorded at $7.9 billion, down by $106 million compared to $8.6 on Sept 30.

Total liquid foreign reserves held by the country stood at $13.59 billion, said the SBP on Thursday. Net foreign reserves held by commercial banks amounted to $5.69 billion.

“During the week ended on September 30, 2022, SBP’s reserves decreased by $106 million to $7,899.8 million due to external debt repayment which includes interest payments on Eurobonds,” said the SBP.