Karachi February 9 2023: SBP foreign exchange reserves for the week ending February 3, 2023, were down by USD 170 million to USD 2,916 million, the lowest since 07-Feb-2014, as per data released by the Central Bank.
"State Bank of Pakistan reserves decline due to payment of external debt", according to the central bank statement.
At present, SBP reserves stand at the level of USD 2,916 million as of 3rd February 2023 compared to USD 3,086 million at the end of the week ending 27th January 2023.
During the same period, foreign exchange reserves held by commercial banks also decreased by USD 34 million to the level of USD 5,622 million as of 3rd February 2023.
Overall reserves held by the country witnessed a decline of USD 202 million to USD 8,540 million during the week ending 3rd February 2023.