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Pakistan’s foreign reserves drop by $308 million: SBP

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Web Desk
Web Desk
News Stories Posted by ARY News Digital Team

The State Bank of Pakistan (SBP) on Friday shared that the liquid foreign reserves in Pakistan have declined by over $308 million during the week ending on September 23, ARY News reported.

According to details shared by the SBP, the total liquid foreign reserves in the SBP stood at $13.76 billion on September 23.

Sharing a break-up of the foreign reserves position, the central bank said that the reserves held by the State Bank of Pakistan after a $308 million drop, stand at US$8.59 billion, while commercial banks’ reserves are settled at $5.75 billion after an increase of $32.5 million.

On September 16, according to the Central Bank, the total liquid foreign reserves held by the country stood at US$14.06 billion.

While giving a breakup of the position, the SBP said it held reserves of US$ 8.346 billion as compared to US$ 5.723 billion held by commercial banks.

It said that during the week ending on September 16, the SBP reserves decreased by US$ 278 million to US$ 8,346.4 million due to external debt repayment.

Also Read: Pakistan’s foreign reserves fall by $826.9 million: SBP

On Sunday, the Saudi Fund for Development confirmed it will extend for one year a $3 billion deposit currently placed in the SBP accounts since 2021.

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