SBP reserves dip by 955.9mn

By MG News | November 10, 2022 at 07:13 PM GMT+05:00

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November 10, 2022 (MLN): Foreign exchange reserves held by the State Bank of Pakistan fell by $955.9 million to $7.96 billion during the week ended on 4th Nov’22, according to the data released by the Central bank on Thursday.

The decrease in the foreign exchange reserves is due to external debt servicing and the major external debt repayments executed during the week includes repayment of GoP commercial loans.

The reserves held by the commercial bank were slightly decreased by $2mn to $5.76bn.

Meanwhile, total reserves held by the country fell by $957.90 to $13.72bn.

Moreover, refinancing of these loans is in process which will improve foreign exchange reserves in coming week.

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