In the week ending Feb 12th, Pakistan witnessed a dip in the foreign exchange reserves of $59 million.
According to the State bank of Pakistan (SBP), the country’s total liquid foreign reserves stood at $20,058.6 million on February 12 after the decline.
The breakup of the foreign reserves is:
- The reserves held by SBP were: $12,889.7 million
- The reserves held by commercial banks were: $7,168.9 million
According to SBP, the reason for this dip is the repayment of external debts. This is the second consecutive week when the SBP reserves dropped down.
Previously, the foreign exchange reserves held by SBP dropped by $80 million compared with $13,031 million in the previous week.
According to the data by SBP, the net reserves held by the central bank were $12,949 million.
It is further informed that the total amount of liquid foreign reserves held by the country was $20.07 billion on Feb 4th. Net reserves held by the commercial banks were $7,124 million.
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