Pakistan’s foreign reserves further decline by $59.3 million

• Total reserves: $13.0 billion, down by $59.3 million
• SBP reserves: $7.9 billion, down $63.2 million
• Commercial Banks reserves: $5.1 billion, up by $4 million

KARACHI, Pakistan: The Country’s total liquid foreign reserves further decline by US$ 59.3 million to stand at US$ 13.0 billion as of February 23, 2024.

The latest data shared by the State Bank of Pakistan (SBP) showed that the total liquid foreign reserves held by the Country as of February 23, 2024 were US$ 13,038.5 million.

Liquid Foreign Exchange Reserves: 23-Feb-2024

Total reserves: $ 13.0bn, down by $ 59mn
SBP reserves: $ 7.9bn, down by $ 63mn
Banks reserves: $ 5.1bn, up by $ 4mn
Import cover: 1.54 months@StateBank_Pak #SBP #FXReserves #Pakistan #Economy #AHL pic.twitter.com/vap7i20CoJ

— Arif Habib Limited (@ArifHabibLtd) February 29, 2024

The statistics showed that the Central Bank’s foreign reserves also fell to US$ 7.9 billion, registering a decrease of US$ 63.2 million.

The reserves held by the Central Bank stood at US$ 7,949.6 million in the week ended on February 23 whereas previously they were US$ 8,012.8 million.

Whereas the Commercial Banks had foreign reserves of US$ 5,088.9 million, showing an increase of US$ 4 million.