Pakistan’s foreign exchange reserves stand at US$ 14.31bn
- By Web Desk -
- May 30, 2024
KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) stood at US$ 9.093 billion after a decrease of US$ 63 million due to external debt repayments, ARY News reported.
In a statement, the central bank’s spokesperson said that the country’s total liquid foreign reserves stood at US$ 14.31 billion during the week ended on 31st May.
According to the SBP, out of the total foreign reserves, US$ 5.22 billion is held by commercial banks as net foreign reserves.
“During the week ended on 24-May-2024, SBP reserves decreased by US$ 63 million to US$ 9,093.7 million due to external debt repayments,” the statement read.
Earlier on May 23, it was reported that Pakistan’s foreign exchange reserves held by the SBP increased by US$22 million, reaching US$9.15 billion from $9.13 billion as of 17th May 2024.
According to data shared by the central bank, the net foreign reserves held by commercial banks decreased by US$630 million to $5.43 billion. The total national reserves have decreased by US$41 million to US$14.58 billion.
The total liquid foreign reserves held by the country stood at US$ 14,58 billion
“During the week ended on 17-May-2024, SBP reserves increased by US$ 22 million to US$ 9,157.0 million,” the SBP’s statement added.