SBP reserves fall by $55mln

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By Business Reporter

KARACHI: The total liquid foreign reserves held by the State Bank of Pakistan (SBP) decreased by $55 million to $12,073 million during the week ending on May 21.

According to the central bank’s weekly report, the total foreign reserves held by the country stood at $ 18,597.9 million on the corresponding date.

The net reserves held by commercial banks stood at $6,524 million. SBP reserves decreased by $55 million to 12,073 million due to external debt repayments, read the report.

Earlier on May 21, Pakistan’s foreign reserves had witnessed a decline of United States Dollar (USD) 141 million after external debt repayments of US$ 156.1 were made by March 15.

According to the central bank, the total liquid foreign reserves held by the country had stood at US$ 18,618.3 million on 15 May.

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