SBP Reserves Fall by $63 Million But Still Above $9 Billion Level

The foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by $63 million on a weekly basis according to data issued by the central bank on Thursday. On May 24, the foreign currency reserves held by the SBP were recorded at $9.094 billion, down $63 million compared to $9.157 billion on May 17. Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $14.315 billion, down $270 million over the previous week. The net reserves held by banks stood at $5.222 billion, registering a decrease of $207 million during the week.