State Bank of Pakistan's reserves fall by $250mln

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by $250 million to $16.212 billion during the week that ended on March 4, according to data shared by the central bank.

The SBP said the central bank’s reserves were recorded at $16.212 billion, down $250 million compared to $16.462 billion on February 25.

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It said the reserves declined due to due to external debt and other payments.

Overall reserves held by the country, including net reserves of commercial banks, stood at $22.668 billion as of March 4, 2022, the SBP said.

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Net foreign reserves of banks amounted to $6.456 billion.