SBP reserves drop 0.13pc despite Qatar aid

The foreign exchange reserves held by the central bank decreased by 0.13pc on a weekly basis, despite receiving $500 million in inflows from Qatar, according to data released by the State Bank of Pakistan (SBP) on Thursday.

On June 28, the foreign currency reserves held by the SBP were recorded at $7.27 million, down $9.3 million compared with $7.28 billion in the previous week.

During the week, the central bank received $500 million worth of inflows, out of the total promised aid of $3 billion, from Qatar. The decline was recorded after taking into account the external debt servicing and other official payments, the statement added.

The overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $14.44 billion. Net reserves held by banks amounted to $7.17 billion.

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