Forex reserves fall by $89m

KARACHI: The country’s liquid foreign exchange reserves fell by $89 million during last week.

The total liquid foreign exchange reserves held by the country stood at $ 13.162 billion as of Oct 21, 2022 compared to $ 13.251 billion on Oct 14, 2022.

During the week under review, the SBP’s reserves decreased by $ 157 million to $7.44 billion due to external debt repayment.

According to the SBP, it has received $ 1.5 billion from the Asian Development Bank (ADB) in value on Oct 26, 2022 as disbursement of loan for the government of Pakistan. These proceeds will be reflected in the SBP’s reserves report for the week ending Oct 28, 2022 and will be issued next week.

Similarly, reserves held by commercial banks rose by $ 68 million to $5.722 billion at the end of last week against $5.654 billion a week earlier.

Copyright Business Recorder, 2022