Photo: fileThe foreign exchange reserves held by the central bank decreased 1.1% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On August 19, the foreign currency reserves held by the SBP were recorded at $7,809.9 million, down $87 million compared with $7,897.3 million on August 12. Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $13,521.6 million. Net reserves held by banks amounted to $5,711.7 million. On March 30, 2021, Pakistan borrowed $2.5 billion through Eurobonds by offering lucrative interest rates to lenders aimed at building the foreign exchange reserves.

Source: The Express Tribune August 26, 2022 12:41 UTC