Pakistan’s foreign reserves drop to $8.86 billion

0
205

KARACHI: The foreign exchange reserves held by the central bank fell by $514.4 million during the week ending on June 16, 2023, according to data released by the State Bank of Pakistan (SBP) on Thursday.

 

According to the stats issued by the SBP, the country’s foreign reserves dropped by $514 million to $8.86 billion. The reserves in the SBP dropped by $480 million to $3.53 billion.

 

Total liquid foreign reserves held by the country stood at $8.86 billion, said the SBP on Thursday. Net foreign reserves held by commercial banks amounted to $5.32 billion.

 

Earlier on June 1, the total liquid foreign reserves of Pakistan stood at US$ 9,513 million as of May 26 while reserves held by the central bank reached US$4,090.7 million, according to data released by the State Bank of Pakistan (SBP) on Thursday.

 

The State Bank of Pakistan, in a statement issued here on Thursday, informed that foreign reserves of the central bank decreased by US$102 million to US$4,090.7 million due to external debt repayment in the week ending on May 26, 2023.

 

Meanwhile, net foreign reserves held by commercial banks stood at US$5,422.3 million, it added. In the week ending on May 19, 2023, total liquid foreign reserves held by the country was US$ 9,731.1 million.

LEAVE A REPLY

Please enter your comment!
Please enter your name here