SBP reserves fall $110m to 12.6bn

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $110 million to $12,679.6 million during the week ending March 13, 2020, according to data released by the central bank on Thursday.

This decline in SBP reserves is attributed to repayments related to external government debt, Hajj and other official payments during the week, the central bank said.

Net foreign reserves held by commercial banks also decreased, from $6,114.7 million in the week ending March 3 to $6,063.4 million.

The total liquid foreign reserves held by the country stood at 18,743 million.