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Pakistan’s total foreign reserves reach $8.86 billion

Forex reserves fall $230m to $23.49bn

Pakistan’s total liquid foreign reserves stood at $8,863.8 million while reserves held by the central bank reached $3,536.9 million.

The State Bank of Pakistan, in a statement issued here on Thursday, informed that foreign reserves of the central bank decreased by $482 million to $3,536.9 million due to external debt repayment in the week ended on June 16, 2023.

Meanwhile, net forex reserves held by commercial banks stood at $5,326.9 million, it added.

The SBP spokesperson informed that SBP has received $300 million proceeds of GoP commercial loan during the current week but those inflows were not included in the report under review. Those proceeds would be incorporated in the reserves position report as of 23-Jun-2023 to be published in the next week, he added.

In the previous week ending on June 09, 2023, total liquid forex reserves held by the country was $9,378.2 million. Among them, foreign reserves held by the central bank were $4,018.7 million while net foreign reserves held by commercial banks were $5,359.5 million.

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