KARACHI: The State Bank of Pakistan’s foreign exchange reserves decreased by $ 784 million to $6.715 billion during last week. The current level of the SBP’s reserves is lowest since June 2019.
According to the SBP, this decline is on account of payment of US$ 1,000 million against maturing Pakistan International Sukuk and some other external debt repayments.
Some of the debt repayments were offset by inflows, mainly US$ 500 million received from Asian Infrastructure Investment Bank (AIIB).
As per weekly forex report, the total liquid foreign exchange reserves held by the country stood at $ 12.582 down by $797 million during the week ended Dec 2, 2022. Net foreign exchange reserves held by commercial banks also declined to $5.867 billion.
Copyright Business Recorder, 2022