SBP reserves fall $119m to 12.7bn

The foreign exchange reserves held by the State Bank of Pakistan declined 0.9pc on a weekly basis, according to data released by the central bank on Thursday.

On September 18, the foreign currency reserves held by the SBP were recorded at $12,701.6 million, down $119 million compared with $12,820.4 million in the previous week.

According to the central bank, the fall came on the back of government's external debt repayments.

The overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $19,903.7 million. Net reserves held by banks amounted to $7,202.1 million.