Karachi: The foreign exchange reserves held by the central bank declined by USD 1,646million, according to data released by the State Bank of Pakistan.
As of October 15, 2021, the foreign currency reserves held by the SBP were recorded at USD 17,492 million, witnessed a decline of USD 1,646 million compared with USD 19,138 million in the previous week.
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Current level of foreign reserves can service the imports of ~3 months.
According to the central bank, the decrease came on the back of external debt repayment that included repayment of USD 1 billion against Pakistan International Sukuk
Overall liquid foreign exchange reserves held by the country, including banks stood at USD 24,327 million. Reserves held by banks amounted to USD 6,835 million.
Since its peak of USD 20,145 million back in August 2021, the SBP foreign exchange reserves has decreased by USD 2,653 million.