KARACHI: Foreign exchange reserves of the State Bank of Pakistan (SBP) decreased $47 million to $17.57 billion in the week ending on Aug 20.

The central bank reported on Thursday the country’s total reserves decreased $48.8m to $24.62bn. Dollar holdings of commercial banks decreased $1.8m to $7.04bn during the week.

The SBP received on Aug 23 the International Monetary Fund’s special drawing rights (SDR) allocation funds amounting to $2.75bn, which will increase foreign exchange reserves of the SBP and will be reflected in the data to be published on Sept 2.

Published in Dawn, August 27th, 2021