SBP reserves fall 1.5pc, stand at $8.84bn

The foreign exchange reserves held by the State Bank of Pakistan declined 1.5pc on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday.

On May 10th, the foreign currency reserves held by the SBP were recorded at $8,845.6 million, down $138.5 million as compared to $8,984.1 million in the previous week.

The decrease was attributed to external debt servicing and other official payments, the statement added.

Overall, the country’s liquid foreign currency reserves, including net reserves held by banks other than the SBP, stood at $15,894.4 million. Net reserves held by banks amounted to $7,048.8 million.