SBP FX reserves fall to $4.34bn

MG News | January 12, 2023 at 08:38 PM GMT+05:00

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January 12, 2023 (MLN): Foreign exchange reserves held by the State Bank of Pakistan fell by $1.23 billion to $4.34bn during the week ended on January 06, 2023, according to the data released by the central bank on Thursday.

This drop in reserves marked the lowest after February 28, 2014.

Reserves held by the commercial bank slightly down by $1.4mn to clock in at $5.84bn.

Meanwhile, the total reserves held by the county fell to $10.18bn.

Earlier, today President of the United Arab Emirates (UAE) Sheikh Mohamed bin Zayed agreed to roll over the existing loan of $2BN and provide $1bn additional loan to Pakistan.

Also, Pakistan will receive $3 billion from WB, AIB, and ADB from next month, Secretary Planning Commission Zafar Ali Shah said during an interview with media official.

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