Pakistan’s foreign exchange reserves stand at US$14.57bn

KARACHI: Pakistan’s foreign exchange reserves increased by US$365.7 million to reach US$14.57 billion as of 28th June, ARY News reported citing the State Bank of Pakistan (SBP).

The central bank in a statement said that Pakistan’s reserves held by the SBP stood at US$9.38 billion after an increase of US$ 493.7 million.

The SBP statement read that the country’s reserves held by the commercial banks decreased by US$128 million to US$5.18 billion,

“During the week ended on 28-June-2024, SBP reserves increased by US$ 494 million to US$ 9,389.5 million due to official inflows from multilateral agencies,” the SBP added.

Earlier it was reported that Pakistan’s foreign exchange reserves stood at US$14.207 billion as of June 21.

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.