AIRLINK 62.00 Decreased By ▼ -0.48 (-0.77%)
BOP 5.33 Decreased By ▼ -0.03 (-0.56%)
CNERGY 4.48 Decreased By ▼ -0.10 (-2.18%)
DFML 15.48 Decreased By ▼ -0.02 (-0.13%)
DGKC 65.54 Decreased By ▼ -0.86 (-1.3%)
FCCL 17.54 Decreased By ▼ -0.05 (-0.28%)
FFBL 27.60 Decreased By ▼ -0.10 (-0.36%)
FFL 9.31 Increased By ▲ 0.04 (0.43%)
GGL 9.98 Decreased By ▼ -0.08 (-0.8%)
HBL 104.80 Decreased By ▼ -0.90 (-0.85%)
HUBC 121.16 Decreased By ▼ -1.14 (-0.93%)
HUMNL 6.55 Decreased By ▼ -0.05 (-0.76%)
KEL 4.49 Decreased By ▼ -0.01 (-0.22%)
KOSM 4.50 Increased By ▲ 0.02 (0.45%)
MLCF 35.80 Decreased By ▼ -0.40 (-1.1%)
OGDC 122.30 Decreased By ▼ -0.62 (-0.5%)
PAEL 22.69 Decreased By ▼ -0.31 (-1.35%)
PIAA 31.54 Increased By ▲ 2.20 (7.5%)
PIBTL 5.79 Decreased By ▼ -0.01 (-0.17%)
PPL 107.00 Decreased By ▼ -0.50 (-0.47%)
PRL 27.18 Decreased By ▼ -0.07 (-0.26%)
PTC 18.35 Increased By ▲ 0.28 (1.55%)
SEARL 52.48 Decreased By ▼ -0.52 (-0.98%)
SNGP 62.80 Decreased By ▼ -0.41 (-0.65%)
SSGC 10.59 Decreased By ▼ -0.21 (-1.94%)
TELE 9.19 Decreased By ▼ -0.01 (-0.11%)
TPLP 11.25 Decreased By ▼ -0.19 (-1.66%)
TRG 70.00 Decreased By ▼ -0.86 (-1.21%)
UNITY 23.62 No Change ▼ 0.00 (0%)
WTL 1.27 Decreased By ▼ -0.01 (-0.78%)
BR100 6,930 Decreased By -13.5 (-0.19%)
BR30 22,686 Decreased By -141.2 (-0.62%)
KSE100 66,962 Decreased By -179.8 (-0.27%)
KSE30 22,048 Decreased By -42.4 (-0.19%)
Markets

Critical level: SBP-held foreign exchange reserves plummet to $8.24bn

  • Massive decrease of $748mn occurs on a weekly basis
  • SBP says reserves expected to increase in coming days on realisation of proceeds of CDB loan
Published June 23, 2022

Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased a massive $748 million on a weekly basis, falling to a critical $8.24 billion amid expectations that the recently-signed agreement with Chinese banks would help boost the level.

The SBP said total liquid foreign reserves held by the country stood at $14.21 billion as of Jun 17, 2022 with net foreign reserves held by commercial banks clocking in at $5.97 billion.

Critical level: SBP-held foreign exchange reserves fall to $8.99bn, lowest since Nov 2019

"During the week ended on 17-Jun-2022, SBP reserves decreased by $748 million to $8,237.7 million mainly due to external debt repayments," said the SBP on Thursday.

"SBP reserves are expected to increase in coming days on realisation of proceeds of CDB loan."

The current reserves' level does not take into account the loan facility from the Chinese consortium.

Finance Minister Miftah Ismail's said that the Chinese consortium of banks on Tuesday signed an RMB 15 billion ($2.3 billion) loan facility agreement.

The minister, in a tweet, said the inflow was expected within a couple of days. “We thank the Chinese government for facilitating this transaction,” he added.

Comments

Comments are closed.

M M Alam Jun 23, 2022 10:23pm
''expectations that the recently-signed agreement with Chinese banks would help boost the level''....not correct , it never left the book. It's renewal , not fresh infusion.
thumb_up Recommended (0)