Foreign exchange: SBP reserves decline $176m to $8.62b

KARACHI: The foreign exchange reserves held by the central bank fell by $176 million during the week ended on September 9, 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 $8.62 billion, down by $176 million compared to $7.7 on August 19.

Total liquid foreign reserves held by the country stood at $14.32 billion, said the SBP and added that net foreign reserves held by commercial banks amounted to $5.7 billion.

“During the week ended on September 9, 2022, SBP’s reserves decreased by $176 million to $8,624 million due to external debt and other payments,” said the SBP.