AIRLINK 75.20 Decreased By ▼ -0.05 (-0.07%)
BOP 5.12 Increased By ▲ 0.01 (0.2%)
CNERGY 4.51 Decreased By ▼ -0.09 (-1.96%)
DFML 34.51 Increased By ▲ 1.98 (6.09%)
DGKC 90.27 Decreased By ▼ -0.08 (-0.09%)
FCCL 22.85 Decreased By ▼ -0.13 (-0.57%)
FFBL 33.15 Decreased By ▼ -0.42 (-1.25%)
FFL 9.93 Decreased By ▼ -0.11 (-1.1%)
GGL 11.13 Increased By ▲ 0.08 (0.72%)
HBL 115.25 Increased By ▲ 0.35 (0.3%)
HUBC 136.59 Decreased By ▼ -0.75 (-0.55%)
HUMNL 10.08 Increased By ▲ 0.55 (5.77%)
KEL 4.64 Decreased By ▼ -0.02 (-0.43%)
KOSM 4.72 Increased By ▲ 0.02 (0.43%)
MLCF 40.11 Decreased By ▼ -0.43 (-1.06%)
OGDC 141.30 Increased By ▲ 1.55 (1.11%)
PAEL 27.55 Decreased By ▼ -0.10 (-0.36%)
PIAA 25.18 Increased By ▲ 0.78 (3.2%)
PIBTL 6.83 Decreased By ▼ -0.09 (-1.3%)
PPL 124.46 Decreased By ▼ -0.84 (-0.67%)
PRL 27.39 Decreased By ▼ -0.16 (-0.58%)
PTC 14.13 Decreased By ▼ -0.02 (-0.14%)
SEARL 61.70 Decreased By ▼ -0.15 (-0.24%)
SNGP 72.35 Decreased By ▼ -0.63 (-0.86%)
SSGC 10.52 Decreased By ▼ -0.07 (-0.66%)
TELE 8.76 Decreased By ▼ -0.02 (-0.23%)
TPLP 11.50 Decreased By ▼ -0.23 (-1.96%)
TRG 66.44 Decreased By ▼ -0.16 (-0.24%)
UNITY 25.80 Increased By ▲ 0.65 (2.58%)
WTL 1.41 Decreased By ▼ -0.03 (-2.08%)
BR100 7,839 Increased By 36.6 (0.47%)
BR30 25,796 Decreased By -19.9 (-0.08%)
KSE100 74,800 Increased By 268.7 (0.36%)
KSE30 24,094 Increased By 139.8 (0.58%)
Markets

SBP-held foreign exchange reserves fall $110mn, now stand at $8.04bn

  • Reserves held by central bank decrease for third straight week
Published August 10, 2023

Foreign exchange reserves held by the State Bank of Pakistan (SBP) fell $110 million on a weekly basis, clocking in at $8.04 billion as of August 4, data released on Thursday showed.

Total liquid foreign reserves held by the country stood at $13.33 billion. Net foreign reserves held by commercial banks stood at $5.29 billion.

“During the week ended August 4, 2023, SBP’s reserves decreased by $110 million to $8,043.4 million on account of debt repayments,” the SBP said.

Last week, foreign exchange reserves held by the SBP witnessed a fall of $32 million due to external debt repayments.

Last month, reserves held by the SBP got a boost as Pakistan received the first tranche of about $1.2 billion from the International Monetary Fund (IMF) after its lender approved a new $3-billion Stand-By Arrangement. There will be two more quarterly reviews, one in November and the last in February 2024.

Additionally, Saudi Arabia and the UAE, which committed lending earlier, also deposited their financing with Pakistan’s central bank.

Comments

Comments are closed.

Pakistani1 Aug 11, 2023 01:48am
Two different actions have to be done by Pakistan to grow foreign exchange reserves. 1-Country has to increase activities which generate Foreign exchange and 2- Country has to curtail activities which use foreign exchange. Instead it seems Pakistan keeps reduces activities which will generate Foreign Exchange and increases activities which spend Foreign Exchange.
thumb_up Recommended (0)