SBP foreign exchange reserves fall $415mn to $18.15bn

KARACHI: The foreign exchange reserves held by the central bank fell 2.23% during the week ending on December 17, 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 $18,153.7 million, down $415 million compared with $18,568.3 million on December 10.

According to the central bank, the decrease came mainly due to external debt repayment.

The SBP said that overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $24,633 million.

Net reserves held by banks amounted to $6,479.3 million, said the central bank in a statement.

Pakistani rupee inches up

The Pakistani rupee inched higher by three paisas against the United States (US) dollar in the interbank currency market on Thursday.

According to the State Bank of Pakistan (SBP), the domestic unit closed at Rs178.12 against the greenback, registering appreciation of three paisas compared to the previous close of Rs178.15.

On Wednesday, the rupee had finished at Rs178.15 against the US dollar, touching a new all-time low.