KARACHI: The State Bank of Pakistan’s foreign exchange reserves reached below $6 billion at the end of last week. During the week ended Dec 23, 2022, the SBP’s reserves further decreased by $294 million to $ 5.822 billion as compared to $6.116 billion on Dec 16, 2022. The decline was recorded due to external debt repayment. Now, the SBP and banks’ foreign exchange reserves are at equal level.

However, net foreign exchange reserves held by commercial banks increased by $2 million to $ 5.885 billion. During the period under review, the total liquid forex reserves held by the country fell by $292 million to stand at $ 11.707 billion.

Copyright Business Recorder, 2022