SBP’s foreign exchange reserves decreased by $70 million

The State Bank of Pakistan (SBP) reported that its liquid foreign exchange reserves dipped by $70 million during the week ending September 1, 2023, bringing the total to $7,779.3 million. According to data released by the central bank on Thursday, this decline was primarily due to debt repayments. Additionally, commercial banks held net foreign exchange reserves totaling $5,347.4 million, resulting in a combined liquid foreign reserve of $13,126.7 million for the country as of September 1, 2023.