SBP's foreign exchange reserves fall to $3.7b
The State Bank of Pakistan's (SBP) foreign exchange reserves fell to a record low of $3.7 billion as the country grapples with a severe economic crunch.
Total liquid foreign #reserves held by the country stood at US$ 9.45 billion as of January 20, 2023. The SBP’s reserves stood at $3.7 billion while commercial banks have foreign reserves of $5.8 billion.
Total liquid foreign #reserves held by the country stood at US$ 9.45 billion as of January 20, 2023.
— SBP (@StateBank_Pak) January 26, 2023
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The Central Bank said it had made a huge payment of $92.3 million in the form of external debt in last week.
After the payment, State Bank's reserves decreased from $4.60 billion to $3.7 billion.
Reserves of commercial banks also decreased by $6.8 million to $5.8 billion.