Pakistan’s foreign exchange reserves stand at US$14.2bn

KARACHI: Pakistan’s foreign exchange reserves stood at US$14.207 billion as of June 21, ARY News reported citing the State Bank of Pakistan (SBP).

According to a statement issued by the central bank, the SBP held US$8.8958 billion out of the country’s total liquid foreign reserves with commercial banks holding US$5.3115 billion.

The statement read that the SBP’s reserves decreased by US$239 million due to the payment of external loans.

“During the week ended on 21-June-2024, SBP reserves decreased by US$ 239 million to US$ 8,895.8 million due to external debt repayment,” the SBP’s statement read.

Earlier on June 21, it was reported that Pakistan’s foreign exchange reserves held by the SBP increased by US$31 million on a weekly basis

The central bank in a statement said that after the increase Pakistan’s foreign exchange reserves held by the SBP stood US$9.135 billion as of 14th June 2024.

“During the week ended on 14-June-2024, SBP reserves increased by US$ 31 million to US$ 9,134.7 million,” the statement added.

The country’s total liquid foreign reserves stood at $14.415 billion, according to the SBP. Out of the total, net foreign reserves held by commercial banks are US$ 5.28 billion.