The foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by 8.3 percent on a weekly basis, according to data released by the central bank on Thursday.
The State Bank of Pakistan’s foreign exchange reserves have experienced a significant drop in recent weeks, falling from $9.226 billion on June 3 to $8.237 billion on June 17. This decrease is largely due to external debt repayments, and the central bank’s reserves are now at their lowest level since October 25, 2019.
The State Bank of Pakistan (SBP) has announced that its foreign exchange reserves are expected to increase in the coming days, following the receipt of proceeds from a loan from the China Development Bank (CDB).
Overall, the country’s liquid foreign currency reserves (including net reserves held by banks other than the SBP) currently stand at $14.210 billion. Of this amount, net reserves held by banks amounted to $5,972 billion.