SBP foreign reserves fall $80mn to $12.9bn

KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by $80 million compared with $13,031 million in the previous week, ARY News reported.

According to the data released by the central bank, net reserves held by the SBP stood at $12,949 million.

Overall liquid foreign reserves held by the country stood at US$ 20.07 billion as of February 04, 2021. Net reserves held by banks amounted to $7,124 million.

Total liquid foreign #reserves held by the country stood at US$ 20.07 billion as of February 04, 2021. For details: https://t.co/WpSgomnd3v pic.twitter.com/ZJzTMYx44Q

— SBP (@StateBank_Pak) February 11, 2021

However, the central bank gave no reason for the decrease in reserves.

On the other hand, the Pakistani rupee continued to strengthen against the United States (US) dollar on Thursday as it appreciated by 24 paisa against the greenback in the interbank.

According to the State Bank of Pakistan (SBP), the dollar closed at Rs159.07 against the local currency as compared to yesterday’s closing rate of Rs159.31.