KARACHI: The country’s total liquid foreign reserves fell by $59 million during the last week, the State Bank of Pakistan (SBP) reported on Thursday.

According to SBP, the total liquid foreign reserves held by the country stood at $ 13.039 billion as of Feb 23, 2024 compared to $ 13.098 billion as of Feb 16, 2024.

During the week under review, reserves held by the SBP witnessed downward trend due to debt repayments, while commercial banks’ reserve registered a slight increase.

SBP-held foreign exchange reserves fall below $8bn

During the week ended on Feb 23, 2024, SBP’s reserves decreased by $ 63 million to reach $ 7.95billion down from $ 8.013 billion a week earlier. Net foreign reserves held by commercial banks rose by $ 4 million to $ 5.089 billion end of the last week as against $ 5.085 billion end of previous week.

Copyright Business Recorder, 2024