The foreign exchange reserves held by the State Bank of Pakistan for the week ending July 23 showed a decrease of $221 million, or 1.22 percent, on a weekly basis.
The SBP reserves for the week in concern were recorded at $17,829.8 million, down from $18,050.7 million recorded on July 16, SBP data showed on Thursday. No reason for the decline was provided by the central bank.
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Total liquid foreign currency reserves held by the central bank and other banks were recorded at $24,875.5 million. Out of these, the net reserves held by banks other than the SBP amounted to $7,045.7 million.
Pakistan borrowed $2.5 billion through Eurobonds on March 30, 2021, which helped bolster the reserves. The reserves also increased on account of $2.5 billion in inflows from China.
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