Pakistan’s foreign reserves drop to $16.3 billion
- By Web Desk -
- Dec 26, 2024
ISLAMABAD: The total liquid foreign reserves held by the country stood at US$ 16,371.5 million as of December 20, 2024, ARY News reported quoting SBP.
According to State Bank of Pakistan (SBP) report, foreign reserves held by the State Bank of Pakistan stood at US$ 11,853.5 million whereas net foreign reserves held by commercial banks were recorded at US$ 4,518.0 million.
During the week ended on December 20, 2024, SBP reserves decreased by US$ 228 million to US$ 11,853.5 million due to external debt repayments.
Last week, the State Bank of Pakistan (SBP) witnessed a surge in the foreign exchange reserves with a reported increase of $31 million.
The State Bank of Pakistan in a statement said that “the total foreign reserves of Pakistan surged to US$16.632 billion, while the SBP reserves crossed $12.081 billion as of December 13, 2024.”
According to the central bank, the total liquid foreign exchange reserves held by commercial banks climbed to US $4.551 billion.
Also read: Tax-to-GDP ratio to reach 13pc in three years, vows Aurangzeb
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