SBP reserves decrease by $482m in a week

MG News | June 22, 2023 at 08:04 PM GMT+05:00

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June 22, 2023 (MLN): The foreign exchange reserves held by the State Bank of Pakistan (SBP) diminished by $481.8 million or 11.99% WoW to $3.54 billion during the week ended on June 16, 2023, according to the data released by the central bank on Thursday.

The decrease is due to external debt repayment.

Similarly, the country's total reserves fell by $514.4m or 5.49% WoW to $8.86bn.

The reserves held by commercial banks declined by $32.6m or 0.61% WoW to $5.33bn.

During the current week, SBP has received $300m proceeds of GoP commercial loan. These inflows shall be incorporated in the reserves position to be published as of June 23, 2023.

**Summary of Holding and Weekly Change**
Foreign reserves held by	June 16, 2023	June 09, 2023	Change	% Change
State Bank of Pakistan	3536.9	4018.7	-481.8	-11.99%
Net Foreign Reserves Held by Banks	5326.9	5359.5	-32.6	-0.61%
Total Liquid Foreign Reserves	8863.8	9378.2	-514.4	-5.49%

Amount in USD Million

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