Karachi September 7 2023: The foreign exchange reserves of the State Bank of Pakistan (SBP) saw a reduction for the third straight week of USD 70 million in the past week due to debt repayments, according to data released by the Central Bank.
As of September 1st, 2023, the current level of SBP reserves is USD 7,779.3 million.
During the same time frame, foreign exchange reserves held by commercial banks increased by USD 26 million, reaching USD 5,347.4 million as of September 1st, 2023.
Overall, the country’s total reserves experienced a decline of USD 44 million, reaching USD 13,127 million by the week ending on September 1st, 2023.
