SBP’s reserves go down by $383m in last 15 days

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KARACHI: The total reserves of the State Bank of Pakistan (SBP) declined by $383 million in the last 15 days as the country’s reserves stood at $19.771 billion on January 12 compared to $20.153 billion on December 29.

The total reserves of the country declined by $284 million in the last week because of external debt servicing and other official payments, the SBP said.

However, the reserves held by the commercial banks increased by $29 million and stood at $6.076 on January 12 compared to $6.047 billion on December 29.

On December 8, 2017, the total liquid foreign reserves of the country increased to $20.687 billion as SBP’s reserves increased by $2.006 billion to $14.666 billion.

The reserves of the country have declined by $916 million since December 8, 2017.

The change in reserves was due to proceeds from international bonds and payments on account of external debt servicing and other official outflows.

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