ISLAMABAD: The State Bank of Pakistan (SBP) reported on Thursday that the total liquid foreign reserves of Pakistan stood at US$ 13,463.7 million, while reserves held by the central bank settled at $8,153.8 million.
According to a statement issued by SBP, reserves of the central bank went down by $32 million to settle at $ 8,153.8 million due to debt repayments during the week ending on July 27, 2023, while reserves held by commercial banks were recorded at US$ 5,309.9 million.
In the earlier week ending on July 21, 2023, the statement added that the total liquid foreign reserves held by the country were recorded as $13,534.1 million, including US$ 8,186.1 reserves held by the central bank and US$ 5,348 million held by commercial banks.
Current, Future Status of Foreign Reserves
It is worth noting that Pakistan’s reserve reached over $13.80bn soon after the country received $4.2bn from three different sources, including Saudi Arabia ($2bn), United Arab Emirates ($1bn) and IMF ($1.2bn), in the middle of July.
However, the total reserved witnessed a two-times decrease to settle at $13.46bn due to debt repayment. A couple of days before, while announcing the monetary policy Governor State Bank claimed that the total foreign reserve will witnessed a further decrease due to debt repayment, however, claimed that it would be improved in December this year again.
