SBP reserves drop 1.57pc to stand at $8.5bn

The foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased 1.57pc on a weekly basis, according to data released by the central bank on Thursday.

On September 20, the foreign currency reserves held by the SBP were recorded at $8,465.3 million, down $134.7 million compared with $8,600.4 million in the previous week. The decline in the reserves was attributed to external debt payments.

Meanwhile, the overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $15,772.6 million. Net reserves held by banks amounted to $7,307.3 million.