SBP reserves drop $305m to $13.1bn

KARACHI: Foreign exchange reserves held by the central bank fell $305 million on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday.

As per details, forex reserves held by the SBP were recorded at $13,110.9 million as on Nov 27, down 2.27pc compared with $13,415.5 million in the previous week.

The central bank said the decrease in reserves came on the back of 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 $20,241.8 million. Net reserves held by banks amounted to $7,130.9 million.

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