- Fall attributed to debt repayments and vaccine procurement
Total liquid foreign reserves held by Pakistan stood at $24.644 billion during the week ending on August 6, 2021, a decrease of over $200 million week-on-week, 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 $209.2 million as compared to the total figure of around $24.853 billion in the previous week ending on July 30, 2021.
"During the week ended 06-Aug-2021, SBP made external debt repayments and payments for the import of Covid-19 vaccine totaling US$ 245 million," stated the SBP. "After accounting for other official inflows, SBP’s reserves decreased by $223 million to $17,622.7 million."
The break-up of the foreign reserves position is as follows:
- Foreign reserves held by the State Bank of Pakistan: US$17,622.7 million
- Net foreign reserves held by commercial banks: US$7,021.3 million
- Total liquid foreign reserves: US$24,644.0 million
Moreover, SBP's reserves decreased by $223.3 million to $17,622.7 million during the week ended 06-August-2021.
However, net foreign reserves held by commercial banks witnessed an increase of $14.1 million from $7,007.2 million last week.