SBP reserves fall 2.4pc, stand at $8.8bn

The foreign exchange reserves held by the central bank declined 2.43pc on a weekly basis and were recorded at $8.8 billion, according to data released by the State Bank of Pakistan (SBP) on Thursday.

On April 26, the foreign currency reserves held by the SBP were recorded at $8,805.2 million, down $219.1 million compared with $9,024.3 million in the previous week.

The decline was attributed to payments on account of external debt servicing and other official payments, the statement notes.

Overall, liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $15,742.8 million. Net reserves held by banks amounted to $6,937.6 million.

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