KARACHI: The foreign exchange reserves of the State Bank of Pakistan (SBP) dropped by almost $748 million during the week ending June 17. This is the lowest level they have been since 2019.
The central bank gave a breakdown of the foreign reserves and said that the State Bank of Pakistan has $8,237.7 million in reserves.
According to information shared by the central bank, the country had a total of $14,210.4 million in liquid foreign currency reserves, which included net reserves held by banks other than the SBP. The amount of money that banks held in net reserves was $5,972.7 million.
The state bank said that foreign debt payments were the main reason for the drop. But it also said that “SBP reserves are expected to grow in the next few days as a result of the repayment of a CDB loan.”
