SBP reserves fall by $342mn to $12.3bn
- By Web Desk -
- Oct 01, 2020
KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $342 million to $12.35bn during the week ended on 25th of September, ARY News reported.
According to the central bank’s weekly report, its reserves dropped to $12,359.7 million. The central bank attributed the decrease to government external debt payments of $311 million.
Detailing the position of the reserves, the SBP said that the overall foreign reserves of the country stood at $19.53 billion. The central bank said that the commercial banks currently held the foreign reserves of $7,175.1 million.
Read More: SBP reserves decline by US$119 million after external debt repayments
Earlier on September 24, the State Bank of Pakistan (SBP) had announced a decline in foreign reserves of the country by United States Dollar (USD) 119 million owing to external debt repayments by the government during the week ending on 18th of September.
According to a release issued by the central bank, the total liquid foreign reserves held by the country had stood at US$ 19,903.7 million on 18-September-2020.
Giving a break-up of the foreign reserves position, the state bank had held reserves of US$ 12,701.6 million as compared to US$7,202.1 million reserves held by commercial banks.