State Bank’s foreign reserves fall below $8 billion

BusinessState Bank’s foreign reserves fall below $8 billion
  • Total reserves: $13.25 billion, down by $130.6 million
  • SBP reserves:  $7.93 billion, down by $124.8 million
  • Commercial Banks reserves: $5.31 billion, down by $5.8 million

KARACHI, Pakistan: The State Bank of Pakistan’s (SBP) foreign reserves were down to US$ 7.9 billion in the week ended on August 18, 2023.

Sharing the data on Thursday, the Central Bank said that the total liquid foreign reserves held by the Country stood at US$ 13.25 billion as of August 18, 2023.

In the week ended on August 11, the Country had total reserves of US$ 13,379.0 million; however, a week later, they were reduced to US$ 13,248.4 million, down by US$ 130.6 million.

Also Read: US Dollar Rate in Pakistan Today Crosses Rs 300 Mark in Interbank Market

The data showed that the State Band had foreign reserves of US$ 7,930.5 million, down by US$ 124.8 million while US$ 5,317.9 million were with the Commercial Banks as of August 18, registering a decrease of US$ 5.8 million.State Bank’s foreign reserves fall below $8 billion

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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