SBP reserves fell by $70m in a week

MG News | September 07, 2023 at 06:14 PM GMT+05:00

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September 07, 2023 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) diminished by $70 million or 0.89% WoW to $7.78 billion during the week ended on September 01, 2023, according to the data released by the central bank on Thursday.

The decline in reserves was due to debt repayment.

Similarly, the country's total reserves declined by $44.4m or 0.34% WoW to $13.13bn.

The reserves held by commercial banks rose by $25.6m or 0.48% WoW to $5.35bn.

**Summary of Holding and Weekly Change**
Foreign reserves held by	September 01, 2023	August 25, 2023	Change	% Change
State Bank of Pakistan	7779.3	7849.3	-70.00	-0.89%
Net Foreign Reserves Held by Banks	5347.4	5321.8	25.6	0.48%
Total Liquid Foreign Reserves	13126.7	13171.1	-44.4	-0.34%

Amount in USD Million

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