SBP reserves drop $386m to $13.01bn

The foreign exchange reserves held by the State Bank of Pakistan (SBP) fell 2.88pc on a weekly basis, according to data released by the central bank on Thursday.

On January 15, the foreign currency reserves held by the SBP were recorded at $13,013.8 million, down $386 million compared with $13,400 million in the previous week.

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

Overall, liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $20,120.3 million. Net reserves held by banks amounted to $7,106.5 million.

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