SBP reserves drop $141m to $12.1bn

The foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $141 million to $12.129 billion on a weekly basis, according to data released by the central bank on Thursday.

On May 15, the forex reserves held by the SBP were recorded at $12,129.3 million, down $141 million compared with $12,270.7 million in the previous week.

According to the central bank, the decrease came on account of external debt repayments of $156.1 million.

The overall liquid foreign reserves held by the country, including net reserves held by banks other than the SBP, stood at $18,618.3 million. Net reserves held by banks amounted to $6,489 million.