State Bank of Pakistan's reserves have dropped below the $8 billion mark.

The State Bank of Pakistan (SBP) reported a decline in foreign exchange reserves, falling below the $8 billion mark, as per data released by the central bank on Thursday.

Decline in Reserves

As of February 23, the foreign currency reserves held by the SBP were recorded at $7.95 billion, marking a decrease of $63 million compared to $8.013 billion on February 16. The central bank attributed this decline to debt repayments.

Overall Reserves

The total liquid foreign currency reserves, encompassing both SBP reserves and net reserves held by other banks, amounted to $13.039 billion. This figure reflects a decrease of $59 million over the previous week.

Net Reserves Held by Banks

Net reserves held by banks, excluding those held by the SBP, stood at $5.089 billion. Despite the overall decline in reserves, net reserves held by banks experienced a modest increase of $4 million during the week.

The decrease in foreign exchange reserves highlights the importance of prudent financial management and measures to stabilize the country’s economic position amidst external debt obligations. Continued monitoring and strategic interventions may be necessary to address fluctuations in reserves and ensure financial stability.




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