AVN 65.52 Decreased By ▼ -1.18 (-1.77%)
BAFL 29.72 Increased By ▲ 0.22 (0.75%)
BOP 4.05 Decreased By ▼ -0.03 (-0.74%)
CNERGY 3.57 Decreased By ▼ -0.05 (-1.38%)
DFML 11.56 Decreased By ▼ -0.24 (-2.03%)
DGKC 42.03 Decreased By ▼ -1.17 (-2.71%)
EPCL 45.66 Decreased By ▼ -0.33 (-0.72%)
FCCL 11.60 Decreased By ▼ -0.25 (-2.11%)
FFL 5.78 Decreased By ▼ -0.10 (-1.7%)
FLYNG 5.94 Decreased By ▼ -0.13 (-2.14%)
GGL 10.88 Decreased By ▼ -0.37 (-3.29%)
HUBC 67.40 Decreased By ▼ -0.48 (-0.71%)
HUMNL 5.59 Decreased By ▼ -0.05 (-0.89%)
KAPCO 24.38 Decreased By ▼ -0.47 (-1.89%)
KEL 2.11 Decreased By ▼ -0.02 (-0.94%)
LOTCHEM 24.92 Decreased By ▼ -0.08 (-0.32%)
MLCF 24.58 Decreased By ▼ -0.29 (-1.17%)
NETSOL 74.12 Decreased By ▼ -2.08 (-2.73%)
OGDC 84.67 Decreased By ▼ -1.19 (-1.39%)
PAEL 10.61 Decreased By ▼ -0.44 (-3.98%)
PIBTL 3.91 Decreased By ▼ -0.07 (-1.76%)
PPL 64.81 Decreased By ▼ -1.19 (-1.8%)
PRL 12.74 Decreased By ▼ -0.21 (-1.62%)
SILK 0.87 Decreased By ▼ -0.01 (-1.14%)
SNGP 39.41 Decreased By ▼ -1.34 (-3.29%)
TELE 7.06 Decreased By ▼ -0.42 (-5.61%)
TPLP 14.70 Decreased By ▼ -0.39 (-2.58%)
TRG 107.60 Decreased By ▼ -2.85 (-2.58%)
UNITY 13.37 Decreased By ▼ -0.14 (-1.04%)
WTL 1.20 Decreased By ▼ -0.01 (-0.83%)
BR100 4,040 Decreased By -40.6 (-0.99%)
BR30 14,413 Decreased By -217.8 (-1.49%)
KSE100 39,942 Decreased By -434.1 (-1.08%)
KSE30 14,739 Decreased By -177.2 (-1.19%)
Follow us

Foreign exchange reserves held by the State Bank of Pakistan (SBP) fell another $15 million to an alarming level of $6.7 billion, data released on Thursday showed. This is the lowest level of SBP-held reserves since January 2019.

Total liquid foreign reserves held by the country stood at $12.57 billion as of December 9, 2022, said the SBP. Net foreign reserves held by commercial banks clocked in at $5.87 billion.

“SBP’s reserves did not record any major change during the week ended on Dec 9, 2022, and closed at $6.7 billion,” said the central bank.

Last week, foreign exchange reserves held by the SBP fell $784 million to $6.715 billion.

Falling reserves have increased worries over Pakistan’s ability to meet debt obligations, and increased perceived default risks, especially at a time the country is in the midst of an economic crisis and recovering from devastating floods that killed over 1,700 people.

The low level has prompted the SBP to take several administrative measures to control the outflow of dollars, and tame rupee’s depreciation against the US dollar.


Also read:

Comments

Comments are closed.

SBP-held foreign exchange reserves fall another $15mn, now stand at $6.7bn

Free flour: Punjab govt to provide 20kg bags from 29th

Officials asked to ensure provision of free flour

Support price of wheat in Balochistan now equal to those in other provinces

ECC told: G-B working on targeted wheat subsidy plan

Free flour: PML-N seeks to regain a foothold in Punjab

PSA seeks annual limit of $800m for solar imports

Militancy crisis: WB to mull over $50m project for Fata, KP families’ succor

Marriyum heaps criticism on IK

Punjab-KP polls,general election: IK accuses govt of deep-rooted ambivalence

FBR to encourage taxpayers to adapt to ADRCs forum