Karachi August 11 2022: Foreign exchange reserves held by the State Bank of Pakistan were decreased by USD 555.1 million on higher debt repayments, revealed on Thursday by State Bank of Pakistan.
However, SBP expect debt repayments to moderate during the next three weeks of this month.
In fact, around three-fourth of debt servicing for the month of August was concentrated during the first week.
For the week ending August 5, 2022, Reserves held with SBP were decreased by USD 555 million to USD 7.830 billion as per data released by the Central Bank.
At present, SBP reserves stand at the level of USD 7.830 billion as of 5th August 2022 compared to USD 8.385 billion at the end of the week ending 29th July 2022.
During the same period, foreign exchange reserves held by commercial banks decreased by USD 92 million to the level of USD 5.730 billion as of 5th August 2022.
Overall reserves held by the country witnessed a decrease of USD 647 million during the week ended 5th August 2022.
