SBP reserves fall by $59mn

KARACHI: Foreign reserves held by the State Bank of Pakistan (SBP) decreased by $59 million to $12.27 billion during the week ending on May 08, 2020, ARY News reported.

According to the central bank’s weekly report, the total liquid foreign reserves held by the country stood at $ 18.744 billion on the corresponding date.

The net reserves held by commercial banks stood at $6.473 billion.

Earlier on May 7, the foreign reserves held by the State Bank of Pakistan (SBP) had witnessed an increase of United States Dollar (USD) 259 million during the week ending on April 30.

Sharing details of the foreign reserves held by the country, the SBP in its statement said that the total liquid foreign reserves of the country stood at US$ 18,755.1 million on 30 April.

Giving its breakup, it said that the SBP currently held the foreign reserves of upto $12,329.4 million and $ 6,425.7 million reserves held by the commercial banks