ISLAMABAD: The total liquid foreign reserves held by the country stood at US$ 13,126.7 million ($13.12bn) as of 01-Sep-2023, as reported by the State Bank of Pakistan on Wednesday. The break-up position of the foreign reserves, including the central bank and the Private banks, is as follows:
1. Foreign reserves held by the State Bank of Pakistan: US$ 7,779.3 million
2. Net foreign reserves held by commercial banks: US$ 5,347.4 million
3. Total liquid foreign reserves : US$ 13,126.7 million
During the week ended on 01-Sep-2023, SBP’s reserves witnessed a decrease of US$ 70 million to US$ to settle at 7,779.3 million on account of debt repayments.
Decrease in Foreign Reserves
Last month Governor State Bank of Pakistan expressed in a press conference that the central bank’s reserves would be decreased due to debt repayment as part of the unilateral and multilateral agreements. He, however, hoped that the situation would be better till December this year due to some possible inflows from friendly countries.
In addition, the removal of the ban on all kinds of imports last month also resulted in outflow of the greenback, creating pressure on the central bank’s reserves.
