Pakistan’s foreign reserves slips further to $13.46 billion

BusinessPakistan’s foreign reserves slips further to $13.46 billion

KARACHI, Pakistan: Pakistan’s foreign reserves further dropped by US$ 70.4 million to stand at US$ 13.46 billion in the week ended on July 27, 2023.

Sharing the data on Friday, the State Bank of Pakistan (SBP) said that the total liquid foreign reserves held by the Country stood at US$ 13.46 billion as of July 27, 2023.

The data showed that the State Band had foreign reserves of US$ 8.15 billion, down by US$ 32.3 million while US$ 5.30 billion were with the Commercial Banks as of July 27, registering a decrease of US$ 38.1 million.

Pakistan’s foreign reserves slips further to $13.46 billion

Earlier by the week ended on July 14, the Country’s foreign reserves had mounted to US$ 14.07 billion after an increase of US$ 4.2 billion inflows from the International Monetary Fund (IMF), Saudi Arabia, and the United Arab Emirates (UAE).

The IMF had has transferred US$ 1.2 billion to Pakistan as part of the US$ 3 billion Stand-By Arrangement for nine months whereas Saudi Arabia and the UAE had also deposited US$ 2 billion and US$ 1 billion respectively to the State Bank’s account.

Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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