SBP reserves fall $119m to 12.7bn

The foreign exchange reserves held by the State Bank of Pakistan declined 0.9pc on a weekly basis, according to data released by the central bank on Thursday.

On September 18, the foreign currency reserves held by the SBP were recorded at $12,701.6 million, down $119 million compared with $12,820.4 million in the previous week.

According to the central bank, the fall came on the back of government’s external debt repayments.

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The overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $19,903.7 million. Net reserves held by banks amounted to $7,202.1 million.

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