SBP reserves fall by $59m

KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves fell by US$59 million in a week, data released by the central bank showed on Friday.

Overall reserves held by the SBP were recorded at $10.499 billion as of April 30.

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The country’s total foreign reserves, including net reserves of commercial banks, stood at $16.553 billion, the central bank said.

Net foreign reserves held by commercial banks were US$ 6 billion.

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The State Bank in a statement said, “During the week ended on 30-April-2022, SBP reserves recorded a decline of US$ 59 million to US$ 10,499.0 million due to external debt payments.”