Foreign exchange: SBP reserves fall $88mn to $17.6bn

KARACHI: The foreign exchange reserves held by the central bank fell US$88 million during the week ending on January 7, according to the data released by the State Bank of Pakistan (SBP) on Thursday.

Sharing a break-up of the foreign reserves position, the central bank said that foreign currency reserves held by the SBP were recorded at $17.6bn, down $88mn compared with 17, 680 million on January 7.

The central bank did not provide a reason for the week-on-week decline in reserves.

Meanwhile, total liquid foreign reserves held by the country stood at $23.9 billion on January 07, 2022, stated the SBP.

Net foreign reserves held by commercial banks stood at $6.3 billion.