SBP reserves fall $305mn to $13.1bn

KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by $305 million compared with $13,415.5 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 $13,110 million.

The overall liquid foreign exchange reserves held by the country stood at $20.24 billion, including $7,130.9 million forex holdings of the commercial banks.

Earlier on November 12, the foreign exchange reserves held by the State Bank of Pakistan (SBP) had increased by $558 million to $12.74 billion during the week ended on 6^th of November.

According to the data released by the central bank, net reserves held by the SBP had stood at $12.74 billion. “The increase in reserves is mainly attributed to the receipt of $500 million as GOP loan proceeds,” SBP had said.

The overall liquid foreign exchange reserves held by the country had stood at $19.9 billion.