ISLAMABAD: The total liquid foreign reserves witnessed a decrease of held by the country stood at US$ 13,171.1 million as of 25-Aug-2023, maintained a statement issued by the State Bank of Pakistan on Wednesday. During the week ended on 25-Aug-2023, SBP’s reserves decreased by US$ 81 million to US$ 7,849.3 million on account of debt repayments.
The break-up of the foreign reserves position is as under:
- i) Foreign reserves held by the State Bank of Pakistan: US$ 7,849.3 million
- ii) Net foreign reserves held by commercial banks: US$ 5,321.8 million
iii) Total liquid foreign reserves : US$ 13,171.1 million
Pakistan’s Foreign Reserves
During the last few months, the Country’s Foreign Reserves reached its highest level in mid-July after Pakistan received $4.2bn from different sources to reach at $13.87bn. It included $1.2bn as part of the IMP conditional loan, $2bn from Saudi Arabia, and $1bn from UAE (United Arab Emirates). However, the last couple of weeks recorded a decline in the total reserves due to repayment of debt in the unilateral and multilateral debt repayments.
Last month, Governor State Bank also predicted the decline in the reserves and hoped that situation regarding foreign reserves would be better in December this year.
