KARACHI: The foreign exchange reserves held by the central bank fell by $303 million during the week ended on October 7, 2022, according to data released by the State Bank of Pakistan (SBP) on Thursday.
According to SBP, the foreign currency reserves held by the central bank were recorded at $7.6 billion, down by $303 million compared to $7.9 on Sept 30.
The SBP reported on Thursday that the country’s total liquid foreign reserves were at $13.25 billion. Commercial banks held $5.65 billion in net foreign reserves.
SBP reported that its reserves dropped by $303 million to $7.596 billion during the week that ended on October 7, 2022. This decline was completely attributable to paying off foreign debt, which included repaying a business loan and paying interest on Eurobonds.
SBP’s reserves increased in September as a result of the central bank receiving the $1.2 billion tranche from the IMF (IMF).
Total liquid foreign reserves held by the country stood at $13.25 billion, said the SBP on Thursday.
