SBP’s forex reserves slip below $8b for first time in almost five years

LAHORE: The official reserves of the State Bank of Pakistan slipped to almost five-year lows of $7.825 billion for the week ended October 19^th as they decreased by $264 million due to external debt servicing and other official payment.

According to a weekly statement issued by the central bank on Thursday, the total foreign reserves held by the country stood at $14.296 billion on October 19^th.

The forex reserves of the central bank amounted to $7.825 billion, whereas net foreign reserves with commercial banks were recorded at $6.478 billion.