SBP forex reserves fall $356mn to $17bn
- By Web Desk -
- Oct 28, 2021
KARACHI: The foreign exchange reserves held by the central bank fell 8.6% during the week ending on October 22, according to data released by the State Bank of Pakistan (SBP) on Thursday.
According to the central bank, the foreign currency reserves held by the SBP were recorded at $17,146.7 million, down $346 million compared with $17,492.2 million on October 15.
Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $23,933.8 million.
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Net reserves held by banks amounted to $6,787.1 million.
The central bank cited no reason behind the decrease in the reserves.
On Monday, PM Imran Khan thanked Crown Prince Mohammed bin Salman following the Saudi Arabian “generous gesture” of depositing $3 billion in the Pakistani central bank to support the country’s foreign exchange reserves.