AIRLINK 57.90 Increased By ▲ 2.86 (5.2%)
BOP 6.24 Decreased By ▼ -0.05 (-0.79%)
CNERGY 4.02 Increased By ▲ 0.07 (1.77%)
DFML 15.73 Increased By ▲ 0.09 (0.58%)
DGKC 68.49 Increased By ▲ 2.49 (3.77%)
FCCL 17.72 Increased By ▲ 0.70 (4.11%)
FFBL 25.69 Increased By ▲ 1.24 (5.07%)
FFL 9.26 Increased By ▲ 0.26 (2.89%)
GGL 9.74 Increased By ▲ 0.30 (3.18%)
HBL 111.74 Increased By ▲ 1.74 (1.58%)
HUBC 114.81 Increased By ▲ 1.46 (1.29%)
HUMNL 6.45 Increased By ▲ 0.10 (1.57%)
KEL 4.30 Increased By ▲ 0.02 (0.47%)
KOSM 3.55 Increased By ▲ 0.43 (13.78%)
MLCF 37.42 Increased By ▲ 1.02 (2.8%)
OGDC 117.20 Increased By ▲ 3.71 (3.27%)
PAEL 22.99 Increased By ▲ 0.99 (4.5%)
PIAA 11.31 Increased By ▲ 0.12 (1.07%)
PIBTL 5.71 Increased By ▲ 0.21 (3.82%)
PPL 105.32 Increased By ▲ 2.63 (2.56%)
PRL 26.45 Increased By ▲ 1.31 (5.21%)
PTC 9.49 Increased By ▲ 0.04 (0.42%)
SEARL 53.34 Increased By ▲ 3.72 (7.5%)
SNGP 64.79 Increased By ▲ 1.94 (3.09%)
SSGC 10.94 Increased By ▲ 0.18 (1.67%)
TELE 7.15 Increased By ▲ 0.18 (2.58%)
TPLP 11.79 Increased By ▲ 0.26 (2.25%)
TRG 72.25 Increased By ▲ 4.65 (6.88%)
UNITY 20.63 Increased By ▲ 0.13 (0.63%)
WTL 1.29 Increased By ▲ 0.07 (5.74%)
BR100 6,286 Increased By 123 (2%)
BR30 21,586 Increased By 604.2 (2.88%)
KSE100 61,559 Increased By 1094.9 (1.81%)
KSE30 20,718 Increased By 420.9 (2.07%)
Markets

SBP-held foreign exchange reserves fall $88mn, stand at $17.6bn

  • Central bank does not give reason for week-on-week decrease
Published January 13, 2022

Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased $88 million on a weekly basis, clocking in at $17.6 billion, showed data released on Thursday.

The central bank did not provide a reason for the week-on-week decline in reserves.

Last week, SBP-held foreign exchange reserves were down $169 million due to external debt repayment.

SBP-held foreign exchange reserves fall $169mn, stand at $17.69bn

Meanwhile, total liquid foreign reserves held by the country stood at $23.9 billion on January 07, 2022, stated the SBP. Net foreign reserves held by commercial banks stood at $6.3 billion.

Pakistan has been looking to build its foreign currency reserves on the back of loans, remittances, and higher exports. However, foreign direct investment continues to be an area of concern for policymakers.

The reserves level is also critical for Pakistan to build an import cover with the bill crossing $6 billion each month, putting pressure on the currency that fell to its weakest level against the US dollar recently.

Comments

Comments are closed.