The State Bank of Pakistan’s foreign exchange reserves declined by 0.3 percent ($47 million) for the week that ended on 20 August, according to data released by the SBP on Thursday.
The central bank (SBP) attributes this decline to debt repayments.
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Its foreign currency reserves were recorded at $17,578.9 million on 20 August, which is $47 million lower than the reserves recorded on 13 August at $17,625.9 million.
In the current week, for which data is yet to be made public by the SBP, the International Monetary Fund (IMF) made payment of its SDR allocation of $2,751.8 million to Pakistan on 23 August 2021. This will improve the SBP’s reserves for the week ending August 27 – for which data will be made available on 2 September.
However, the data released so far showed that for the week that ended on 20 August, the net reserves held by banks other than the central bank amounted to $7,040.4 million.
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The data showed that Pakistan’s overall liquid foreign currency reserves, including net reserves held by banks other than the SBP, amounted to $24,619.3 million.