BusinessSBP Reserves Decreased by $75mn in a Week

SBP Reserves Decreased by $75mn in a Week

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $75 million to $10.1bn during the week finished on May 20, ARY News reported.

According to the central bank’s weekly report, the SBP reserves were logged at $10,088.6 million, down $75 million compared with $10,163.6 million on May 13.

The central bank recognized the decrease to government external debt payments.

Global liquid foreign currency reserves held by the country, containing net reserves held by banks other than the SBP, stood at $16,149.8 million.

Net reserves held by banks amounted to $6,061.2 million.

The federal government on Thursday increased petrol and diesel prices up to Rs30 per litre to reduce fuel subsidies.

Finance Minister Miftah Ismail made the declaration at a press conference.

He had publicized to hike the petrol, diesel, light diesel and kerosene oil prices up to Rs30 per litre.

After the recent hike, the new price of petrol is Rs179.86 per litre, high-speed diesel (HSD) Rs174.15, kerosene oil Rs155.56 and light diesel Rs148.31 rupees.

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