AGL 5.33 Decreased By ▼ -0.17 (-3.09%)
ANL 8.50 Increased By ▲ 0.01 (0.12%)
AVN 75.83 Increased By ▲ 0.03 (0.04%)
BOP 5.18 Decreased By ▼ -0.06 (-1.15%)
CNERGY 4.43 Increased By ▲ 0.01 (0.23%)
EFERT 81.90 Increased By ▲ 0.27 (0.33%)
EPCL 49.30 Decreased By ▼ -0.40 (-0.8%)
FCCL 12.55 Decreased By ▼ -0.24 (-1.88%)
FFL 5.58 Increased By ▲ 0.08 (1.45%)
FLYNG 6.78 Increased By ▲ 0.05 (0.74%)
FNEL 4.76 Increased By ▲ 0.06 (1.28%)
GGGL 9.05 Increased By ▲ 0.63 (7.48%)
GGL 14.76 Increased By ▲ 0.81 (5.81%)
HUMNL 6.15 Increased By ▲ 0.07 (1.15%)
KEL 2.58 Increased By ▲ 0.02 (0.78%)
LOTCHEM 27.63 Decreased By ▼ -0.02 (-0.07%)
MLCF 23.45 Decreased By ▼ -0.34 (-1.43%)
OGDC 71.25 Increased By ▲ 0.15 (0.21%)
PAEL 15.13 Increased By ▲ 0.10 (0.67%)
PIBTL 4.88 Decreased By ▼ -0.02 (-0.41%)
PRL 15.63 Decreased By ▼ -0.35 (-2.19%)
SILK 1.07 Decreased By ▼ -0.03 (-2.73%)
TELE 8.84 Increased By ▲ 0.02 (0.23%)
TPL 7.15 Increased By ▲ 0.07 (0.99%)
TPLP 19.37 Increased By ▲ 0.11 (0.57%)
TREET 20.90 Increased By ▲ 0.05 (0.24%)
TRG 135.84 Decreased By ▼ -0.76 (-0.56%)
UNITY 16.31 Decreased By ▼ -0.24 (-1.45%)
WAVES 9.35 Increased By ▲ 0.10 (1.08%)
WTL 1.38 Increased By ▲ 0.03 (2.22%)
BR100 4,154 Decreased By -3.7 (-0.09%)
BR30 15,315 Decreased By -24.6 (-0.16%)
KSE100 41,601 Decreased By -50.9 (-0.12%)
KSE30 15,375 Decreased By -5.5 (-0.04%)
Follow us

Foreign exchange reserves held by the State Bank of Pakistan (SBP) fell another $341 million, clocking in at an alarming level of $8 billion as of September 23, 2022, according to data released on Thursday.

Total liquid foreign reserves held by the country stood at $13.76 billion, said the SBP on Thursday. Net foreign reserves held by commercial banks amounted to $5.76 billion.

“During the week ended on September 23, 2022, SBP’s reserves decreased by $341 million to $8,005.9 million due to external debt repayment,” said the SBP.

SBP-held foreign exchange reserves decline $278mn to $8.35bn

Earlier this month, SBP's reserves had increased as the central bank received the $1.2-billion tranche from the International Monetary Fund (IMF).

Later, the Saudi Development Fund also rolled over a $3-billion deposit with the SBP, an amount that was due to mature in December 2022. However, this development was not meant to increase foreign exchange as the amount was already part of SBP's reserves.

The reserves’ position is critical for Pakistan that has been desperately seeking dollar inflows to meet its balance-of-payments needs.

A low level of reserves caused severe pressure on its currency market with the rupee witnessing its worst monthly performance in July in over 50 years. The rupee gained some ground as Pakistan met all prior conditions of the IMF, a development that helped it secure $1.17 billion of inflow under the Extended Fund Facility (EFF), but came under pressure once again as floods hit and import restrictions eased.

The local currency has staged a recovery this week, closing at Rs229.63 per dollar on Thursday, as markets factored in the return of Ishaq Dar as finance minister, with the bullish trend prevailing due to sentiment.


Comments are closed.

Anonymous Sep 29, 2022 10:12pm
of this $8b, $1.2b have come from the IMF -- making it 6.8b 2.5b were rolled over by China earlier this year -- making it 4.3b 3b were due to be mature by December 2022 -- making it 1.1 another 1b bond is due in December -- it has to be paid Alll in all, we have 100 million left....and we have to make interest payments on ongoing loans. WE ARE OFFICIALLY BANKRUPT. THIS IS NOT A CASE OF DEFAULT. IT IS BANKRUPTCY
thumb_up Recommended (0)
Dr.Abdul Ghafoor Awan Sep 29, 2022 10:30pm
Such type of comments should be avoided as these show lack of trust in the country. The debt-to- GDP ratio is of US is more than Pakistan but no American ever commented that their country has become bankrupt.
thumb_up Recommended (0)
Anza Sep 30, 2022 12:23am
We can avoid this situation if Govt ,finance ministry and the central bank is sincere.
thumb_up Recommended (0)
Hello Sep 30, 2022 01:14am
(If we deduct 3b deposit by saudi, we are already $ -3b by this year end !!) ,
thumb_up Recommended (0)
Hello Sep 30, 2022 01:15am
thumb_up Recommended (0)
Hello Sep 30, 2022 01:17am
@Anonymous, $3bn deposit from ksa??
thumb_up Recommended (0)
Pakistani Sep 30, 2022 01:45am
@Hello, this was rolled it doesnt have to be paid back
thumb_up Recommended (0)
Malik Sep 30, 2022 05:34am
Dollar came down due to act of some brokers and will move up again in 5 to 10 days, it is going to hit 300 this year
thumb_up Recommended (0)
Malik Sep 30, 2022 05:36am
@Dr.Abdul Ghafoor Awan, rubbish. Pakistan is going to gutter and people like you are still trying to put head in the sand
thumb_up Recommended (0)
MUNISH KUMAR Sep 30, 2022 04:17pm
@Dr.Abdul Ghafoor Awan, don't think you are American. Us $ still goes every where. There export at the highest. IMF give us$not napaki currency
thumb_up Recommended (0)
MUNISH KUMAR Sep 30, 2022 04:19pm
@Malik, yes you are right. They are bakistani but comparing with USA. COMPARE YOUR CURENCY FIRST. USA IS NOT A BEGGER LIKE YOU
thumb_up Recommended (0)

Alarming level: SBP-held foreign exchange reserves decline $341mn to $8bn

Electricity bills: PD says doesn’t want to manage tax, surcharge collection

Intra-day update: rupee registers marginal improvement against US dollar

Forex reserves fall to $6.7bn on repayments

BHC orders to quash all FIRs registered against PTI's Azam Swati

China’s Xi meets Arab leaders on ‘milestone’ Saudi trip

Oil bounces on pipeline shutdown, but heads for weekly loss on demand woes

CARs: ADB lists barriers to trade flows

FX reserves may rise in H2FY23: All debt repayments on track, says SBP governor

‘Country of Particular Concern’: Pakistan conveys its concerns to US

765kV DC transmission lines: FD asks PD to take action on award of contract