Pakistan’s foreign exchange reserves fall to $24.875 billion

Pakistan’s foreign exchange reserves fall to $24.875 billion

Total liquid foreign reserves held by Pakistan stood at $24.875 billion during the week ending on July 23, 2021, according to data released on Thursday by the State Bank of Pakistan (SBP).

On a week-on-week basis, total reserves held by the country decreased by around $253 million as compared to the total figure of around $25.128 billion in the previous week ending on July 16, 2021.

The break-up of the foreign reserves position is as follows:

  1. Foreign reserves held by the State Bank of Pakistan: US$ 17,829.8 million
  2. Net foreign reserves held by commercial banks: US$7,045.7 million
  3. Total liquid foreign reserves: US$ 24,875.5 million

Moreover, SBP’s reserves decreased by US$ 221 million to US$ 17,829.8 million during the week ended 23-Jul-2021. The central bank did not give a reason for the decrease.

Similarly, net foreign reserves held by commercial banks also witnessed a decline of US$ 31.6 million from US$ 7,077.3 million last week. (Business Recorder)

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