SBP reserves go down by $843.7 mln1 min read
KARACHI: The details released by the Condition Financial institution of Pakistan (SBP) showed on Thursday that the overseas trade reserves dropped by $843.7 million during the week.
According to the SBP info, the overseas forex reserves of the central lender were recorded at $21.43 billion till March 18. The SBP reserves stood at $14.96 billion after the reduction of $869.2 million.
The internet reserves of the commercial banking institutions have amounted to $6,47 billion with an raise of $25.5 million.
Full liquid international #reserves held by the nation stood at US$ 21.44 billion as of March 18, 2022. For particulars: https://t.co/WpSgomENV3 pic.twitter.com/PHV0eHZFdf
— SBP (@StateBank_Pak) March 24, 2022
Previously on March 4, the foreign trade reserves held by the State Bank of Pakistan (SBP) experienced fallen by $344 million to $16.462 billion through the 7 days that ended on Feb 25, in accordance to data shared by the central lender.
The SBP experienced said the central bank’s reserves have been recorded at $16.462 billion, down $344 million in contrast to $16.806 billion on February 18.
The central bank did not give the motive for the reduce in its reserves.
Overall reserves held by the nation, like net reserves of professional banking institutions, stood at $22.875 billion as of Feb 25, 2022, the SBP claimed. Web foreign reserves of banking companies amounted to $6.412 billion.