SBP foreign exchange reserves slip to $9.96 billion

KARACHI: The official foreign exchange reserves of State Bank of Pakistan (SBP) fell by $146 million to $9.961 billion by week ended June 19, 2020, according to weekly data of foreign exchange reserves of the country issued by the SBP on Thursday.

The official reserves of the central bank were at $10.107 billion by week ended June 12, 2020.

The SBP said that during the week ended June 19, 2020, SBP reserves decreased by $146 million to $ 9,961.2 million. This decline is attributed to government external debt payments of $ 244.5 million.

During the current week, SBP has received around $1,725 million, including $725 million from the World Bank, US$500 million from Asian Development Bank and US$500 million from Asian Infrastructure Investment Bank.

These funds will be part of SBP weekly reserves data as of 26-June-2020 to be released on 02-July-2020.

The total foreign exchange reserves of the country fell by $45 million to $16.73 billion by week ended June 19, 2020 as compared with $16.775 billion a week ago.

However, the foreign exchange reserves of commercial banks increased by $101 million to $6.769 billion by week ended June 19, 2020 as compared with $6.668 billion a week ago.

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