SBP reserves drop $389m to $7.61bn

The total liquid foreign reserves held by the country decreased by $389 million to $14.86 during the week ending on July 19.

As per the break-up of the forex position, foreign reserves held by the State Bank of Pakistan’s stood at $7.61 billion, while net foreign reserves held by commercial banks stood at $7.25 billion.

The central bank said the SBP reserves plunged $389 million to $7.61 billion owing to the country’s financial requirements, including external debt servicing and other debt amortisation.