Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

Trending :

FX reserves fall by $118mn to $13.4bn in a week: SBP

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

September 01, 2022 (MLN): The total liquid foreign exchange reserves held by the country decreased by $118.1million or 0.87% WoW to stand at $13.4 billion during the week ended on August 19, 2022, compared to $13.52bn in the previous week, weekly data released by the State Bank of Pakistan (SBP) on Thursday showed.

Data further revealed that reserves held by the central bank during the week went down by $112.8mn or 1.4% WoW to clock in at $7.7bn compared to $7.8bn in the outgoing week.

Similarly, reserves of commercial banks dropped by $5.3mn or 0.09% WoW to $5.7bn.

To note, the IMF’s proceeds worth $1.16 billion received by SBP under the Extended Fund Facility (EFF) on August 31, 2022, will be included in SBP’s FX reserve position for the week ending on September 02, 2022.

Meanwhile, it is important to note that, the current level of foreign currency reserves is barely enough to cover 1.10 months of import bills.

Copyright Mettis Link News

Posted on:2022-09-01T20:31:08+05:00

34889