Foreign reserves held by the State Bank of Pakistan (SBP) have decreased by $555 million to $7.83 billion due to external debt payments.
Pakistan’s total liquid forex holdings were recorded at $13.56 billion in the week ended on August 05, 2022.
According to a statement of the State Bank of Pakistan here on Thursday, international currency assets held by the SBP accounted for $7,830.3 million. In comparison, net foreign reserves held by commercial banks stood at $5,730.8 million.
The SBP spokesperson informed that SBP’s foreign reserves shrunk by US$ 555 million to US$ 7.83 billion, during the week ended on August 5, 2022, due to some external debt payments.
Debt repayments were expected to moderate during the next three weeks of this month as around three-fourths of debt servicing for the month of August was concentrated during the first week, he added.
In the previous week ended on July 29, the total liquid reserve holdings held by the country were $14,208.7 million. Among them, reserves held by the SBP were $8,385.4 million while net international currency reserves held by commercial banks were $5,823.3 million.