Pakistan’s overall forex reserves fall $211m to $11.49bn
- By Web Desk -
- Dec 31, 2022
KARACHI: Pakistan’s overall forex reserves declined $211 m to $11.49 billion, during the week ended on December 28, the data released by the State Bank of Pakistan (SBP) said on Saturday.
As per details, foreign exchange reserves held by the SBP declined by over $200 million to $5.61 billion, while the reserves of the commercial banks declined by $3.3 million to $5.88 billion.
“During the week ended on December 28, 2022, SBP’s reserves decreased by $200.79 million to $5,61.40 billion due to external debt repayment,” said the SBP in a statement.
In a statement, the State Bank of Pakistan (SBP) said the total liquid foreign reserves held by the country stood at $11.49 billion. Net foreign reserves held by commercial banks clocked in at $5.88.20 billion.
Read more: PAKISTAN BUSINESS FORUM SAYS 2022 REMAINED ‘WORST’ YEAR FOR PAKISTAN
The central bank said that during the current year of 2022, the overall forex reserves declined to $12.62 billion.
The report further said that Pakistan’s overall forex reserves were $24.11.60 billion on December 28, 2021. The SBP was holding $17.68.10 billion and commercial banks were holding forex reserves of $6.43.50 billion.