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SBP reserves fall $830m to $15.59bn

KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves fell 5.05% on a weekly basis, data released by the central bank on Thursday showed.

The foreign currency reserves held by the central bank were recorded at $15.59 billion on April 30, showing a decrease of $830 million compared with $16.42 billion in the previous week.

The reserves decreased due to the payment of commercial loans worth $1 billion, according to the SBP. Official inflows helped offset its impact partially.

Overall liquid foreign reserves held by the country, including net reserves held by commercial banks other than the SBP, were recorded at 22.74 billion. Net reserves held by banks stood at $7.14 billion.

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