Foreign exchange: SBP reserves down $157m to $7.4b
- By Web Desk -
- Oct 28, 2022
KARACHI: The foreign exchange reserves held by the central bank fell by $157 million during the week ended on October 21, 2022, according to data released by the State Bank of Pakistan (SBP).
Sharing a break-up of the foreign reserves position, SBP said that the foreign currency reserves held by the central bank were recorded at $7.4 billion, down by $157 million compared to $7.6 on Sept 14.
“During the week ended on October 21, 2022, SBP’s reserves decreased by $157 million to $7,439.9 million due to external debt repayment,” said the SBP in a statement.
Total liquid foreign #reserves held by the country stood at US$ 13.16 billion as of October 21, 2022. For details: https://t.co/WpSgomnd3v pic.twitter.com/xxBEyjBjol
— SBP (@StateBank_Pak) October 28, 2022
Net foreign reserves held by commercial banks amounted to $5.72 billion, taking the country’s total reserves’ position to $13.16 billion.
On Oct. 26, Asian Development Bank (ADB) on Wednesday transferred $1.5 billion loan to Pakistan, according to central bank.
ADB on Monday signed an agreement with Pakistan to provide $1.5 billion loan for budgetary support and help flood-related rehabilitation and reconstruction.