SBP Reserves Fall for Third Straight Week

The foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by $72 million on a weekly basis according to data issued by the central bank on Thursday. According to the latest data released by the SBP, on August 01, the foreign currency reserves held by the SBP were recorded at $14.232 billion, down $72 million compared to $14.304 billion on July 25. This is the third consecutive decline in the reserves held by the central bank. Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $19.496 billion, down $111 million over the previous week. The net reserves held by banks were recorded at $5.264 billion, registering a decrease of $39 million during the week.