According to data issued by the State Bank of Pakistan (SBP), the foreign exchange reserves held by the institution decreased by 0.2% week over week (SBP).
The SBP report shows that the central bank’s foreign reserves were $6,700 million, down $14.9 million from $6,714.9 million on December 2. Since January 2019, SBP-held reserves have never been lower than at this time.
The total amount of the country’s liquid foreign exchange reserves, which also includes the net reserves held by banks other than the SBP, was $12,570.2 million. The total amount of net reserves held by banks was $5,870.2 million.
The central bank’s foreign exchange holdings reached a record high of $20.15 billion in the week that ended on August 27, 2021, after Pakistan received the general allocation of Special Drawing Rights (SDRs) worth $2.751 billion from the International Monetary Fund (IMF) on August 24.
