FX reserves dip by $595mn WoW to stand at $15.18bn

MG News | June 10, 2022 at 12:39 AM GMT+05:00

0:00

June 10, 2022 (MLN): The total liquid foreign exchange reserves held by the country dropped by $595 million or 3.8% WoW to stand at the lowest level of $15.18 billion since Oct 25, 2019, during the week ended on June 3, 2022, compared to $15.77bn in the previous week, weekly data released by the State Bank of Pakistan (SBP) on Thursday showed.

The data further revealed that reserves held by the central bank during the week dipped by $497mn or 5.1% WoW to clock in at the lowest level of $9.2bn since Nov 29, 2019, mainly due to external debt repayments.

Similarly, the reserves of commercial banks went down by $98mn or 1.6% WoW to $5.95bn.

Meanwhile, it is important to note that, the current level of foreign currency reserves is barely enough to cover 1.35 months of imports.

On the forex front, the Pakistani rupee (PKR) has managed to gain 75 paisa after witnessing a volatile session and settled the trade at PKR 200.77 per USD.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	161,210.68 402.54M	3.49% 5433.46
ALLSHR	96,097.29 718.60M	3.34% 3102.77
KSE30	49,781.74 146.66M	3.95% 1890.99
KMI30	230,597.11 158.11M	4.81% 10582.05
KMIALLSHR	62,183.27 382.16M	3.79% 2272.55
BKTi	46,523.21 43.62M	2.50% 1134.61
OGTi	32,678.22 24.62M	6.68% 2046.87

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	71,370.00	73,825.00 70,845.00	-2075.00 -2.83%
BRENT CRUDE	84.33	86.28 81.50	2.93 3.60%
RICHARDS BAY COAL MONTHLY	99.40	0.00 0.00	-9.60 -8.81%
ROTTERDAM COAL MONTHLY	125.00	125.00 125.00	3.50 2.88%
USD RBD PALM OLEIN	1,083.50	1,083.50 1,083.50	0.00 0.00%
CRUDE OIL - WTI	78.87	82.16 74.97	4.21 5.64%
SUGAR #11 WORLD	13.71	13.82 13.61	-0.02 -0.15%