SBP’s reserves decrease $44m to $8.01bn

MG News | February 22, 2024 at 07:08 PM GMT+05:00

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February 22, 2024 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $43.7 million or 0.54% WoW to $8.01 billion during the week ended on February 16, 2024, according to the data released by the central bank on Thursday.

The central bank cited debt repayments as the reason for this decline.

Similarly, the country's total reserves fell by $51.3m or 0.39% WoW to $13.1bn.

The reserves held by commercial banks diminished by $7.6m or 0.15% WoW to $5.09bn.

In the current fiscal year, total liquid foreign reserves have increased by $3.94bn or 42.99%.

Meanwhile, the current calendar year has seen a decrease of $0.12bn or 0.93%.

**Summary of Holding and Weekly Change**
Foreign reserves held by	February 16, 2024	February 09, 2024	Change	% Change
State Bank of Pakistan	8012.8	8056.5	-43.70	-0.54%
Net Foreign Reserves Held by Banks	5085	5092.6	-7.6	-0.15%
Total Liquid Foreign Reserves	13097.8	13149.1	-51.3	-0.39%

Amount in USD Million

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