The liquid foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by $127 million on a weekly basis according to data issued by the central bank on Thursday.
On January 12, the foreign currency reserves held by the SBP were recorded at $8.027 billion, down $127 million compared to $8.155 billion on January 5. The central bank attributed the decline in reserves to debt repayments.
JUST IN: Foreign exchange reserves held by SBP have declined by USD 127mn WoW to record at USD 8.03bn. pic.twitter.com/qjwM17zn9h
— Ismail Iqbal Securities (@iispl_sec) January 18, 2024
Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $13.145 billion, down $112 million over the previous week. The net reserves held by banks stood at $5.118 billion, registering an increase of $16 million during the week.
It is pertinent to mention here that SBP received the second tranche of $705.6 million from the International Monetary Fund (IMF) under the $3 billion Stand-By Arrangement (SBA) during the week. This disbursement will be reflected in the central bank reserves for the week ending on January 19.
