Foreign exchange: SBP reserves fall $134m to $7.8bn

KARACHI: The Foreign exchange reserves held by the State Bank of Pakistan (SBP) declined $134 million to $7.83 billion during the week ended on November 18, 2022, according to data released by the State Bank of Pakistan (SBP).

In a statement, the State Bank of Pakistan (SBP) said the total liquid foreign reserves held by the country stood at $13.65 billion. Net foreign reserves held by commercial banks clocked in at $5.82 billion.

“During the week ended on November 18, 2022, SBP’s reserves decreased by $134 million to $7,825.7 million due to external debt repayment,” said the SBP in a statement.

Total liquid foreign #reserves held by the country stood at US$ 13.65 billion as of November 18, 2022. For details: https://t.co/WpSgomnd3v pic.twitter.com/1MqRIFRswl

— SBP (@StateBank_Pak) November 25, 2022

It is pertinent to mention here that the SBP received $1.5 billion from ADB on October 26, 2022 as disbursement of loan for the government of Pakistan.