Reserves of the SBP have dropped to $10.55 billion

KARACHI: The foreign exchange reserves of the State Bank of Pakistan (SBP) declined by $328 million to $10.558 billion in the week ending April 23, according to figures issued by the central bank on Thursday.

As of April 23, the country’s total foreign reserves, including net reserves held by commercial banks, was $16.668 billion.

Banks’ net foreign reserves were estimated to be $6.110 million.

The SBP stated that its reserve has shrunk as a result of foreign loan repayments.