The State Bank of Pakistan (SBP) on Friday shared that the liquid foreign reserves in Pakistan have declined by over $308 million during the week ending on September 23.
According to details shared by the SBP, the total liquid foreign reserves in the SBP stood at $13.76 billion on September 23.
Sharing a break-up of the foreign reserves position, the central bank said that the reserves held by the State Bank of Pakistan after a $308 million drop, stand at US$8.59 billion, while commercial banks’ reserves are settled at $5.75 billion after an increase of $32.5 million.
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On September 16, according to the Central Bank, the total liquid foreign reserves held by the country stood at US$14.06 billion.
While giving a breakup of the position, the SBP said it held reserves of US$ 8.346 billion as compared to US$ 5.723 billion held by commercial banks.
It said that during the week ending on September 16, the SBP reserves decreased by US$ 278 million to US$ 8,346.4 million due to external debt repayment.
On Sunday, the Saudi Fund for Development confirmed it will extend for one year a $3 billion deposit currently placed in the SBP accounts since 2021.