KARACHI: In less than a month, foreign exchange reserves of the State Bank of Pakistan (SBP) fell by $1.4 billion to $17bn, announced the centralbank on Thursday.
The State Bank exceeded the target of $18bn for FY26, reaching $18.4bn. The target was a part of the agreement with the IMF.
During the week ended on July 24, the SBPreserves declined by $ 229 million.
The country’s overall foreign exchange holdings stood at $22.442bn, including $5.412bn held by commercial banks, during the week.
SBP Governor Jameel Ahmad reportedly told the Senate Standing Committee on Wednesday that Saudi Arabia has rolled over $5bn and that the State Bank purchased $9bn in FY26 from the interbank market.