Pakistan foreign exchange reserves drop to $13.03 bn

KARACHI: The total liquid foreign reserves of Pakistan stood at US$ 13,030.1 million while the central bank held reserves of $ 7.646 billion, ARY News reported.

The State Bank of Pakistan, in a statement issued here on Thursday, informed that SBP’s reserves increased by $ 31 million to $ 7,646.7 million during the week ended on October 6, 2023.

Meanwhile, net foreign reserves held by commercial banks stood at $ 5,383.4 million, it added. Total liquid foreign reserves held by the country, in the previous week ending on September 28, 2023, were US$ 13.0308 billion.

Among them, foreign reserves held by the central bank were $ 7.615 billion while net foreign reserves held by commercial banks were $ 5.415 billion.

On September 29, the total liquid foreign reserves of Pakistan reached US$ 13.18 billion while reserves held by the central bank stood at $7,636.7 million.

The State Bank of Pakistan (SBP) spokesperson said in a statement that SBP’s reserves decreased by %59 million to $7,636.7 million on account of debt repayments during the week ended on September 22, 2023.

Meanwhile, net foreign reserves held by commercial banks stood at $5,525.1 million, it added. Total liquid foreign reserves held by the country, in the previous week ending on September 15, 2023, were $13.186 billion.

Among them, foreign reserves held by the central bank were $7.695 billion while net foreign reserves held by commercial banks were $5.491 billion.