SBP reserves dip $465mn

KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) dropped by $465mn during the week ended on 3^rd of April, ARY News reported.   

According to the data released by the central bank, the foreign currency reserves held by the SBP were recorded at $10.72 million. The SBP attributed the decline to external debt repayments.

Whereas the country’s net foreign reserves were calculated to be $16.98 billion. The commercial banks’ holdings stood at $6.26 billion.

Read More: Foreign reserves decline as SBP pays debt payments

Earlier on April 2, Pakistan’s foreign reserves stood at United States Dollar (USD) 17,387.5 million by March 27, showed the figures provided by State Bank of Pakistan.

Giving a division of the reserves held by the state bank and commercial banks in its release, the SBP had said that they held foreign reserves of US$ 11,185.6 million as compared to US$ 6,201.9 million present in commercial banks.

It had said that during the week ended on March 27, SBP reserves decreased by US$804 million to US$ 11,185.6 million.