SBP reserves fall by $134mn to $7.83bn

MG News | November 24, 2022 at 08:57 PM GMT+05:00

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November 24, 2022 (MLN): Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $134million to $7.83 billion during the week ended on 18 Nov’22, according to the data released by the Central bank on Thursday.

"The decrease in foreign exchange reserves is attributed to external debt repayment", the statement issued by SBP read.

Reserves held by the commercial bank decreased by $17.4mn to $5.82bn.

Meanwhile, the total reserves held by the county increased by $151.2mn to $13.65bn.

It is important to note that the current level of foreign currency reserves is barely enough to cover 1.66 months of import bills.

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