Pakistan’s foreign exchange reserves stand at US$ 13,020mn: SBP

KARACHI: Pakistan’s total foreign exchange reserves stood at US$ 13,020 million as of 1^st March 2024 after a decrease of US$ 18.5 million, ARY News reported on Thursday citing State Bank of Pakistan (SBP).

The central bank’s spokesman stated in a statement that the country’s total liquid foreign reserves stood at US$13,020 million in the week ended March 1, 2024, compared to US$ 13,038.5 million in the week ended February 23, 2024.

The foreign exchange reserves held by the SBP have dropped by US$ 54 million to US$ 7,895.7 million due to debt repayments. Meanwhile, the net foreign reserves held by commercial banks stood at US$ 5,124.3 million.

Read More: Pakistan’s foreign reserves stand at US$13,097.8m: SBP

Earlier on 29^th February, the SBP said that Pakistan’s total liquid foreign reserves stood at US$ 13,038.5 million in the week ended on February 23, 2024, with foreign reserves held by the State Bank reaching $7,949.6 million.

The SBP said that the central bank’s foreign exchange reserves fell by $ 63 million to $ 7,949.6 million due to debt repayments during the week under review. Meanwhile, commercial banks’ net foreign reserves totaled $5,088.9 million.