Pakistan's foreign exchange reserves stand at US$14.38bn
- By Web Desk -
- Jun 13, 2024
KARACHI: Pakistan’s foreign exchange reserves increased by US$168 million in the first week of June, reaching US$14.38 billion, ARY News reported citing the State Bank of Pakistan.
As per a statement issued by the central bank, Pakistan’s reserves held by commercial banks increased by US$174 million to $5.28 billion during the week ended on June 7.
The reserves held by the SBP decreased by US$6.2 million to stand at US$9.10 billion. The central bank did not mention the reasons for the decrease in the reserves held by it.
“During the week ended on 07-June-2024, SBP reserves decreased by US$ 6 million to US$ 9,103.3 million,” the SBP’s statement read.
Earlier on June 6, it was reported that 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.
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.