SBP reserves fall $846mn to $16.2bn

KARACHI: The foreign exchange reserves held by the central bank fell 846 million during the week ending on January 21, according to the data released by the State Bank of Pakistan (SBP) on Thursday.

Sharing a break-up of the foreign reserves position, the central bank said that foreign currency reserves held by the SBP were recorded at $16.2bn, down $846mn.

Last week, SBP-held foreign exchange reserves were down $562 million, taking the cumulative fall to over $1.4 billion.

The central bank did not provide a reason for the week-on-week decline in reserves.

Total liquid foreign #reserves held by the country stood at US$ 22.48 billion as of January 21, 2022. For details: https://t.co/WpSgomENV3 pic.twitter.com/WLmVOAORwz

— SBP (@StateBank_Pak) January 27, 2022

Meanwhile, total liquid foreign reserves held by the country stood at $22.5 billion on January 21, 2022, stated the SBP.

Net foreign reserves held by commercial banks stood at $6.3 billion.