SBP forex reserves dip due to debt payments
Business
The central bank's reserves decreased by $228mn to $11,853.5mn
ISLAMABAD (APP) – The total liquid foreign reserves held by the country stood at $16,371.5 million as of December 20, 2024, State Bank of Pakistan (SBP) said.
According to breakup figures, foreign reserves held by the central bank stood at $11,853.5 million whereas net foreign reserves held by commercial banks were recorded at $4,518.0 million.
During the week ended on December 20, 2024, SBP reserves decreased by $228 million to $11,853.5 million due to external debt repayments.
Earlier, SPB said it had injected Rs575.8 billion in the market through Open Market Operation (OMO) reverse repo purchase.
The central bank, as per results, conducted Open Market Operation, Reverse Repo Purchase (Injection) on December 26, 2024 for 8-day tenor and accepted an amount of Rs575.8 billion offered through 3 bids.
The central bank received 3 quotes for 8-day tenor cumulatively offering an amount of Rs 575.8 billion at the rate of return ranging from 13.07 to 13.10 percent. The SBP accepted the entire offered amount at 13.07% rate of return.
