SBP reports $110 million drop in foreign reserves
- By Web Desk -
- Mar 19, 2020
KARACHI: The State Bank of Pakistan (SBP) Thursday reported a drop of $110 million in its foreign exchange reserves during the week ending on March 13, ARY News reported.
According to the central bank, the SBP’s net reserves dropped by $110 million to $12.67 billion.
It said commercial banks’ holdings also recorded a decrease of $50 million and were calculated at $12.67 billion.
The country’s net reserves decreased by $160 million to $18.74 billion.
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Last week, the State Bank of Pakistan (SBP) had reported an increase of $32 million in its foreign exchange reserves during the week ending on March 6.
According to the central bank, the net reserves held by the SPB climbed to $12.78 billion.
Whereas, commercial banks held $6.11 billion worth of exchange reserves until the 6th of this month.
The State Bank said the country’s net foreign reserves were calculated to be $18.90 billion.
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