SBP’s foreign exchange reserves fall by $1.64 billion

SBP’s foreign exchange reserves fall by $1.64 billion

KARACHI: The official foreign exchange reserves of the State Bank of Pakistan (SBP) sharply fell by 1.642 billion by the week ended October 15, 2021.

The foreign exchange reserves of the central bank were $25.969 billion by the week ended October 8, 2021, the SBP said on Thursday.

The central bank attributed the decline in foreign exchange reserves to external debt repayment, which included repayment of $1 billion against Pakistan International Sukuk.

The total liquid foreign exchange reserves fell $1.642 billion by the week ended October 15, 2021, when compared with the previous week. The country’s foreign exchange reserves fell to $24.327 billion by the week ended October 15, 2021, as compared with $25.969 billion a week ago.

The foreign exchange reserves held by commercial banks registered an increase of $4 million to $6.835 billion when compared with $6.831 billion a week ago.

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