SBP Reports Decrease in Foreign Exchange Reserves

Islamabad: The State Bank of Pakistan (SBP) has reported a decrease in the country’s foreign exchange reserves. According to the weekly report issued by the State Bank, there has been a decrease of $6.32 million in the reserves during the past week.

As per the details provided in the report, the government’s foreign exchange reserves witnessed a decline of $6.32 million during the previous week, bringing the total value of the reserves to $7.94 billion as of February 23.

Furthermore, the State Bank’s report indicates that there has been an increase of $390,000 in the reserves of commercial banks. Commercial banks now hold reserves worth $5.889 billion, contributing to the overall national reserves which stand at $13.385 billion.

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This decrease in foreign exchange reserves highlights the ongoing challenges faced by the country’s economy and calls for measures to stabilize and strengthen the reserves for ensuring economic stability and resilience.