August 01, 2023 (MLN): The official reserve assets, including foreign currency reserves, IMF reserve position, Special Drawing Rights (SDRs), gold, and other reserve assets, stood at $9.55 billion as of June 30, 2023, according to the latest data revealed by State Bank of Pakistan (SBP).
The foreign currency reserves comprised of securities, currency, and deposits held with other national central banks, and banks headquartered in and outside Pakistan.
The gold reserves, which include gold deposits and swapped gold, amounted to 2.079 million fine troy ounces, equivalent to $3.97bn.
Pakistan's other foreign currency assets, which were not included in official reserve assets, amounted to $90.43m and included securities, deposits, loans, financial derivatives, gold, and others.
Meanwhile, the country's predetermined short-term net drains on foreign currency assets amounted to a nominal value of $20.37bn.
The data showed that foreign currency loans, securities, and deposits accounted for the majority of the outflows, with a total value of $20.37bn, of which $1.28bn had a residual maturity of up to one month, $2.79bn had a residual maturity of more than one and up to three months, and $16.30bn had a residual maturity of more than three months and up to one year.
The report also indicated that Pakistan's aggregate short and long positions in forwards and futures in foreign currencies vis-à-vis the domestic currency, including the forward leg of currency swaps, amounted to $4.54bn. This amount only included short positions amounting to $4.68bn, with long positions amounting to $140m.
In addition, there are $41.94m in collateral guarantees on debt due within a year, and $1.11bn contingent liabilities in foreign currency fall due up to one month.
