SBP reserves dip $47m on account of debt repayments
- By Anjum Wahab -
- Aug 26, 2021
KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves decreased by $47 million on a weekly basis, data released by the central bank on Thursday showed.
On August 20, the foreign reserves held by the central bank were recorded at $17,578.9 million, showing a decrease of $47 million when compared with $17,625.9 million recorded on August 13.
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Overall liquid foreign currency reserves held by the country, including net reserves held by commercial banks, stood at $24,619.3 million.
Net reserves held by commercial banks were recorded at $7,040.4 million.
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The SBP said the reserves decreased on account of debt repayments. “On August 23, SBP received IMF SDR Allocation funds amounting to US$ 2,751 million. This amount will increase FX reserves of SBP and will be reflected in the data to be published on September 2,” it said.