Foreign exchange reserves held by the State Bank of Pakistan (SBP) declined by $54 million or 0.65 percent to $8.22 billion during the week ended January 26, 2024, according to data released by the central bank on Thursday. .
The decrease comes after the SBP increased its reserves last week due to a second tranche of SDR 528 million, equivalent to $705.6m received from the International Monetary Fund (IMF).
However, the central bank held back on loan repayments, which led to a decline in reserves this week.
Deposits held by commercial banks also fell by $24.9m or 0.49% to $5.046bn.
Accordingly, the country's total reserves fell by $78.9 million or 0.59 percent to $13.263 billion during the week.
It should be noted that the total liquid foreign reserves have increased by 4.1 billion dollars or 44.79% in the current financial year.
Meanwhile, the current calendar year has seen an increase of $588.9m or 4.65%.
0 Comments