KARACHI: The foreign exchange reserves held by the central bank fell 8.6% during the week ending on October 8, according to data released by the State Bank of Pakistan (SBP) on Thursday.
On October 15, the foreign currency reserves held by the SBP were recorded at $17,492.2 million, down $1.65 billion compared with $19,138.4 million.Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $24,327.4 million.
Read More: ADB TO PROVIDE $600MN FOR EHSAAS PROGRAM .MENet reserves held by banks amounted to $6,835.2 million.The central bank cited no reason behind the decrease in the reserves.
The total amount of liquid foreign currency reserves in the country, including net reserves held by banks other than the SBP, was $24,327.4 million.
The net reserves held by banks totaled $6,835.2 million.
The International Monetary Fund (IMF) gave Pakistan a general allocation of $2,751.8 million in Special Drawing Rights (SDRs) earlier in the week that ended on August 27, pushing the nation’s foreign exchange reserves to an all-time high of $20.15 billion.
The central bank claims that the decline was caused by the repayment of external debt, which includes paying $1 billion against Pakistan International Sukuk.
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