SBP foreign reserves fall $15mn to $12.9bn

KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by $15 million compared with $13,013 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 $12,998 million.

Overall, liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $20,106.5 million. Net reserves held by banks amounted to $7,108.1 million.

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

The foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by $386 million in the previous week.

Total liquid foreign #reserves held by the country stood at US$ 20.12 billion as of January 15, 2021. For details: https://t.co/WpSgomnd3v pic.twitter.com/Z8NobIwDft

— SBP (@StateBank_Pak) January 21, 2021

Meanwhile, the Pakistani rupee appreciated by Rs0.26 against the United States (US) dollar in the interbank market on Thursday.

The central bank said the local currency closed at Rs160.28 against the greenback as compared to yesterday’s closing rate of Rs160.54.