State Bank reserves fall $830m to $15.6b - News Summed Up

State Bank reserves fall $830m to $15.6b


The foreign exchange reserves held by the central bank fell 5.05% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On April 30, the foreign currency reserves held by the SBP were recorded at $15,597.9 million, down $830 million compared with $16,427.8 million in the previous week. According to the central bank, the reserves decreased due to the payment of $1 billion worth of commercial loan, whose impact on SBP’s reserves was partially offset by official inflows. Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $22,742.6 million. Pakistan received the first loan tranche of $991.4 million from the IMF on July 9, 2019, which helped bolster the reserves.


Source: The Express Tribune May 07, 2021 03:56 UTC



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