Thursday, December 9, 2021

SBP forex reserves fall $691mn to $16.3bn

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KARACHI: The foreign exchange reserves held by the central bank decreased $691 million on a weekly basis, according to the data released by the State Bank of Pakistan (SBP) on Thursday.

On November 19, the foreign currency reserves held by the SBP were recorded at $16,254.1 million, down $691 million compared with $16,945.4 million on November 12.

Total liquid foreign reserves held by the country stood at $22.77 billion. Net foreign reserves held by commercial banks stood at $6.519 billion.

Earlier today, Information Minister Fawad Chaudhry Thursday announced that the promised amount of US$3 billion from Saudi Arabia will be transferred this week.

In a tweet, he shared that legal formalities regarding the transfer of US$3 billion promised by Saudi Arabia have also been finalized and the amount would be transferred to Pakistan in the ongoing week.

Read: US$3 BN TO BE TRANSFERRED FROM SAUDI ARABIA IN WEEK: FAWAD CHAUDHRY

It is pertinent to mention here that the Kingdom of Saudi Arabia had announced to deposit $3 billion with the central bank and extended $1.2 billion of trade finance to support the country’s balance of payments.

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