SBP reserves fall by $70 million

• Total reserves: $13.1 billion, down by $44 million
• SBP reserves: $7.8 billion, down by $70 million
• Commercial Banks reserves: $5.3 billion, up by $26 million

KARACHI, Pakistan: The State Bank of Pakistan’s (SBP) foreign reserves further fell to US$ 7.8 billion in the week ended on September 01, 2023.

Sharing the data on Friday, the Central Bank said that the total liquid foreign reserves held by the Country stood at US$ 13.1 billion as of September 01, 2023.

Total liquid foreign #reserves held by the country stood at US$ 13.13 billion as of September 01, 2023.
For details https://t.co/WpSgomnKT3#SBPReserves pic.twitter.com/x61vxl5Cm7

— SBP (@StateBank_Pak) September 8, 2023

In the week ended on August 25, the Country had total reserves of US$ 13,171.1 million; however, a week later, they were reduced to US$ 13,126.7 million, down by US$ 44 million.

The data showed that the State Band had foreign reserves of US$ 7,779.3 million, down by US$ 70 million while US$ 5,347.4million were with the Commercial Banks as of September 01, registering an increase of US$ 26 million.