SBP reserves fall $123mn to $20bn

KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves fell 0.61 % on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday.

The foreign currency reserves held by the central bank were recorded at $20,022 million on September 3, showing a decrease of $123 million compared with $20,145.6 million in the previous week.

Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $27,102.6 million.

Net reserves held by banks amounted to $7,080 million.

On August 24, Pakistan received $2.75 billion from the International Monetary Fund (IMF). “SBP has received US$ 2.75 billion from the IMF, as part of SDR allocation announced by IMF recently,” the State Bank had tweeted.