Central bank confirms development, increase due to inflow of public funds from Pakistan government
Karachi:
The State Bank of Pakistan (SBP) on Thursday reported that Pakistan’s foreign exchange reserves reached $7,757.1 million, an increase of $852 million (12.3%) from the previous week.
As of the week ending December 22, 2023, SBP’s foreign exchange reserves were $7,757.1 million, an increase of $852 million compared to the previous week’s total of $6,904.8 million. The central bank acknowledged this development and said the increase was a result of public capital inflows from the government of Pakistan.
read Foreign exchange reserves increase to $4.4 billion
The country’s total liquid foreign exchange reserves, including reserves held by commercial banks, amounted to $12,855.7 million, and the net reserves held by commercial banks amounted to $5,098.6 million.
The previous week saw a significant decline in foreign exchange reserves of $136 million, which the central bank blamed on debt repayments.
Published in The Express Tribune on December 29thth2023.
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