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Saturday, November 16, 2024

Home Business SBP foreign reserves decline by US$146m after successive increase

SBP foreign reserves decline by US$146m after successive increase

by News desk
July 31, 2020
in Business

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Staff Reporter

Karachi

After a successive increase in foreign reserves during the past weeks, the State Bank of Pakistan (SBP) on Thursday announced a decline in the reserves by United States Dollar (USD) 146 million,.
According to the details of liquid foreign reserves held by the country, the central bank said that currently, the total reserves stood at US$ 18,912.2 million on 24 July 2020. Giving a break-up of the reserves, it said that the foreign reserves held by the State Bank of Pakistan stood at US$ 11,975.6 million as compared to US$ 6,936.6 million held by the commercial banks.
It said that the SBP reserves decreased by US$146 million to US$ 11,975.6 million, due to government external debt repayments.