Net foreign reserves held by commercial banks decreased very slightly, from $6.76 billion to $6.74 billion. The total liquid foreign reserves held by the country rose from $16.73 billion in the week ending June 19 to $17.97 billion during the week under review. The current SBP reserves figure has been calculated after taking into account government external debt payments of $809 million. These funds will be part of SBP weekly reserves data as of July 3, and will be released on July 9. The logic is that the SBP waited in order to make sure it had some reserves before cutting the interest rate again.

Source: Pakistan Today July 02, 2020 17:26 UTC