Pakistan's foreign reserves decline by US$90 million: SBP

KARACHI: The State Bank of Pakistan (SBP) on Thursday shared that the liquid foreign reserves in Pakistan have declined by US$90 million during the week ended on December 10, ARY NEWS reported.

According to details shared by the SBP, the total liquid foreign reserves held by the country stood at US$ 25,027.8 million on 10 December.

Total liquid foreign #reserves held by the country stood at US$ 25.03 billion as of December 10, 2021. For details: https://t.co/WpSgomnd3v pic.twitter.com/GnqFCpcgWJ

— SBP (@StateBank_Pak) December 16, 2021

Sharing a break-up of the foreign reserves position, the central bank said that the reserves held by the State Bank of Pakistan stand at US$ 18,568.3 million while commercial banks also have reserves of US$   6,459.5 million.

During the week ended on 10 December, the SBP said that its reserves decreased by US$ 90 million to US$ 18,568.3 million.

The Pakistani rupee (PKR) remained stable today against the United States (US) dollar in the inter-bank currency market.

According to forex dealers, the greenback closed at Rs177.98 against the local currency in the inter-bank currency market after a bit of fluctuation in intra-day trading.

Interbank closing #ExchangeRate for today:https://t.co/mxnfgcxHzK pic.twitter.com/EhKXHZ0W9a

— SBP (@StateBank_Pak) December 16, 2021

The PKR rupee had closed at Rs177.98 against the dollar in the interbank market on Wednesday. Currency experts said the local unit has lost over Rs25 against the dollar in the last seven months.