Pakistan's forex reserves drop to $13.248bn
Last updated on: 24 August,2023 10:25 pm
SBP reserves stands at $7.930 billion
KARACHI – The foreign exchange reserves held by State Bank of Pakistan (SBP) dropped to $7,930.5 million after declined by $125 million during the week ended on August 18, 2023.
Data shared by the central bank on Thursday said the net foreign exchange reserves held by commercial banks stood at $ 5,317.9 million
The SBP witnessed decline in forex reserves due to international debt repayments, which are must to clear timely in order to avoid default.
— SBP (@StateBank_Pak) August 24, 2023
The total foreign exchange reserves of Pakistan stood at $13,248.4 million as of 18-Aug-2023.